Millennium Management LLC Has $52.14 Million Stock Holdings in Unum Group $UNM

Key Points

• Millennium Management LLC has reduced its stake in Unum Group by 44.3%, holding approximately 640,073 shares after selling 509,797 shares during the first quarter.
• Unum Group has increased its quarterly dividend to $0.46 per share, up from $0.42, reflecting a 2.5% dividend yield.
• Several analysts have adjusted their price targets for Unum Group, with UBS setting a target of $87.00, while Evercore ISI cut theirs to $96.00, indicating varying levels of market optimism.

Millennium Management LLC decreased its position in Unum Group (NYSE:UNM - Free Report) by 44.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 640,073 shares of the financial services provider's stock after selling 509,797 shares during the quarter. Millennium Management LLC owned 0.37% of Unum Group worth $52,140,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in UNM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Unum Group by 12.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,580 shares of the financial services provider's stock worth $3,061,000 after purchasing an additional 4,233 shares during the last quarter. Interval Partners LP raised its stake in Unum Group by 172.2% during the 1st quarter. Interval Partners LP now owns 57,976 shares of the financial services provider's stock valued at $4,723,000 after acquiring an additional 36,676 shares in the last quarter. Hancock Whitney Corp raised its stake in Unum Group by 26.6% during the 1st quarter. Hancock Whitney Corp now owns 40,763 shares of the financial services provider's stock valued at $3,321,000 after acquiring an additional 8,566 shares in the last quarter. Cinctive Capital Management LP bought a new stake in Unum Group during the 1st quarter valued at $3,348,000. Finally, Advisors Asset Management Inc. raised its stake in Unum Group by 18.2% during the 1st quarter. Advisors Asset Management Inc. now owns 5,729 shares of the financial services provider's stock valued at $467,000 after acquiring an additional 884 shares in the last quarter. Institutional investors own 86.57% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. UBS Group set a $87.00 target price on Unum Group and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $95.00 target price (down previously from $100.00) on shares of Unum Group in a research note on Thursday, July 31st. JPMorgan Chase & Co. lifted their target price on Unum Group from $87.00 to $96.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Evercore ISI cut their target price on Unum Group from $100.00 to $96.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. Finally, Morgan Stanley cut their target price on Unum Group from $85.00 to $79.00 and set an "equal weight" rating on the stock in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Unum Group presently has a consensus rating of "Moderate Buy" and an average target price of $91.15.

Unum Group Price Performance

Shares of NYSE UNM traded down $0.07 during mid-day trading on Friday, reaching $75.19. The company had a trading volume of 1,525,048 shares, compared to its average volume of 1,440,049. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.31. The stock has a market cap of $12.81 billion, a PE ratio of 8.99, a P/E/G ratio of 1.24 and a beta of 0.38. The company has a 50-day moving average price of $74.21 and a two-hundred day moving average price of $77.50. Unum Group has a 1-year low of $54.72 and a 1-year high of $84.48.

Unum Group (NYSE:UNM - Get Free Report) last issued its earnings results on Tuesday, July 29th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.23 by ($0.16). Unum Group had a return on equity of 13.44% and a net margin of 11.77%.The company had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the previous year, the firm earned $2.16 earnings per share. The business's revenue was up 4.0% compared to the same quarter last year. Unum Group has set its FY 2025 guidance at 8.500-8.50 EPS. On average, equities analysts anticipate that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 25th were given a $0.46 dividend. This is an increase from Unum Group's previous quarterly dividend of $0.42. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, July 25th. Unum Group's payout ratio is presently 22.01%.

About Unum Group

Unum Group, together with its subsidiaries, provides financial protection benefit solutions primarily in the United States, the United Kingdom, Poland, and internationally. It operates through Unum US, Unum International, Colonial Life, and Closed Block segment. The company offers group long-term and short-term disability, group life, and accidental death and dismemberment products; supplemental and voluntary products, such as individual disability, voluntary benefits, and dental and vision products; and accident, sickness, disability, life, and cancer and critical illness products.