Wedge Capital Management L L P NC Sells 44,229 Shares of Unum Group $UNM

Key Points

• Wedge Capital Management L L P NC reduced its holdings in Unum Group by 9.6% during the 2nd quarter, selling 44,229 shares, bringing its ownership to 417,284 shares valued at approximately $33.7 million.
• Several hedge funds have adjusted their positions in Unum Group, with institutional investors owning 86.57% of the company’s stock.
• Unum Group recently increased its quarterly dividend from $0.42 to $0.46, resulting in an annualized dividend of $1.84 and a yield of 2.4%.

Wedge Capital Management L L P NC lessened its stake in shares of Unum Group (NYSE:UNM - Free Report) by 9.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 417,284 shares of the financial services provider's stock after selling 44,229 shares during the period. Wedge Capital Management L L P NC owned 0.24% of Unum Group worth $33,700,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. grew its holdings in shares of Unum Group by 155.6% during the first quarter. Invesco Ltd. now owns 2,278,473 shares of the financial services provider's stock valued at $185,604,000 after buying an additional 1,387,139 shares during the last quarter. Nuveen LLC acquired a new position in shares of Unum Group during the first quarter valued at about $93,287,000. Teewinot Capital Advisers L.L.C. acquired a new position in shares of Unum Group during the first quarter valued at about $58,881,000. Assenagon Asset Management S.A. grew its holdings in shares of Unum Group by 228.6% during the first quarter. Assenagon Asset Management S.A. now owns 1,033,700 shares of the financial services provider's stock valued at $84,205,000 after buying an additional 719,152 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Unum Group by 9,017.2% during the first quarter. GAMMA Investing LLC now owns 719,618 shares of the financial services provider's stock valued at $58,620,000 after buying an additional 711,725 shares during the last quarter. Institutional investors and hedge funds own 86.57% of the company's stock.

Unum Group Price Performance

NYSE UNM traded up $0.66 on Tuesday, reaching $76.56. 602,802 shares of the company's stock traded hands, compared to its average volume of 1,449,341. Unum Group has a 12 month low of $57.21 and a 12 month high of $84.48. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a 50-day simple moving average of $73.45 and a 200 day simple moving average of $77.26. The stock has a market cap of $13.04 billion, a PE ratio of 9.16, a P/E/G ratio of 1.29 and a beta of 0.38.

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

Unum Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were issued a $0.46 dividend. 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 2.4%. The ex-dividend date was Friday, July 25th. Unum Group's dividend payout ratio (DPR) is 22.01%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on UNM shares. Morgan Stanley reduced their target price on shares of Unum Group from $85.00 to $79.00 and set an "equal weight" rating for the company in a research note on Monday, August 18th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $95.00 price objective (down from $100.00) on shares of Unum Group in a report on Thursday, July 31st. UBS Group set a $87.00 price target on shares of Unum Group and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Evercore ISI lowered their target price on shares of 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, Barclays set a $96.00 target price on shares of Unum Group and gave the company an "overweight" rating in a research note on Monday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $91.14.

Unum Group Profile

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.