Unum Group (NYSE:UNM) Shares Purchased by Vestcor Inc

Key Points

• Vestcor Inc has increased its stake in Unum Group (NYSE:UNM) by 30.7%, now owning 120,611 shares valued at $9.8 million.
• Analysts have a positive outlook for Unum Group, with price targets ranging from $89.00 to $105.00 and a consensus rating of "Moderate Buy."
• Unum Group announced a quarterly dividend increase from $0.42 to $0.46 per share, reflecting a 2.28% dividend yield.

Vestcor Inc raised its holdings in shares of Unum Group (NYSE:UNM - Free Report) by 30.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 120,611 shares of the financial services provider's stock after acquiring an additional 28,297 shares during the quarter. Vestcor Inc owned approximately 0.07% of Unum Group worth $9,825,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. N.E.W. Advisory Services LLC purchased a new stake in Unum Group during the first quarter worth $35,000. Rossby Financial LCC acquired a new position in shares of Unum Group in the 1st quarter valued at $46,000. Wayfinding Financial LLC acquired a new position in shares of Unum Group in the 1st quarter valued at $49,000. Cullen Frost Bankers Inc. boosted its holdings in Unum Group by 1,289.7% in the first quarter. Cullen Frost Bankers Inc. now owns 806 shares of the financial services provider's stock valued at $66,000 after purchasing an additional 748 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in Unum Group in the fourth quarter valued at $102,000. 86.57% of the stock is owned by institutional investors.

Insider Activity at Unum Group

In related news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $80.00, for a total transaction of $800,000.00. Following the completion of the transaction, the executive vice president directly owned 51,170 shares of the company's stock, valued at $4,093,600. The trade was a 16.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.92% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Barclays set a $96.00 target price on shares of Unum Group and gave the stock an "overweight" rating in a research note on Monday, July 7th. UBS Group lowered their target price on shares of Unum Group from $91.00 to $87.00 and set a "neutral" rating on the stock in a research note on Wednesday. Morgan Stanley increased their target price on shares of Unum Group from $83.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Piper Sandler raised their price target on shares of Unum Group from $88.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Unum Group from $103.00 to $102.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Unum Group presently has a consensus rating of "Moderate Buy" and an average target price of $92.54.

Unum Group Trading Down 12.1%

Unum Group stock traded down $9.77 during mid-day trading on Wednesday, hitting $71.20. The company's stock had a trading volume of 6,831,021 shares, compared to its average volume of 1,109,746. The firm has a market capitalization of $12.41 billion, a PE ratio of 8.52, a price-to-earnings-growth ratio of 1.27 and a beta of 0.41. Unum Group has a 1 year low of $51.80 and a 1 year high of $84.48. 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's fifty day moving average is $80.25 and its two-hundred day moving average is $78.55.

Unum Group (NYSE:UNM - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $2.07 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.16). Unum Group had a return on equity of 13.52% and a net margin of 11.77%. The firm had revenue of $3.36 billion for the quarter, compared to analysts' expectations of $3.35 billion. During the same quarter in the prior year, the business earned $2.16 earnings per share. The company's quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts anticipate that Unum Group will post 9.14 EPS for the current year.

Unum Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be given a dividend of $0.46 per share. This is a positive change from Unum Group's previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Friday, July 25th. Unum Group's dividend payout ratio (DPR) is currently 21.67%.

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.