Unum Group (NYSE:UNM) to Issue Dividend Increase - $0.46 Per Share

Unum Group (NYSE:UNM - Get Free Report) declared a quarterly dividend on Thursday, July 10th, RTT News reports. Shareholders of record on Friday, July 25th will be paid a dividend of 0.46 per share by the financial services provider on Friday, August 15th. This represents a $1.84 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Friday, July 25th. This is a 9.5% increase from Unum Group's previous quarterly dividend of $0.42.

Unum Group has a payout ratio of 17.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Unum Group to earn $9.87 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 17.0%.

Unum Group Price Performance

Shares of NYSE UNM traded down $0.47 during midday trading on Friday, hitting $80.00. 1,032,667 shares of the company's stock were exchanged, compared to its average volume of 1,331,243. Unum Group has a 12-month low of $51.25 and a 12-month 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 company has a market cap of $13.95 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 1.24 and a beta of 0.41. The business's fifty day moving average price is $80.29 and its two-hundred day moving average price is $77.85.

Unum Group (NYSE:UNM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $2.04 EPS for the quarter, missing the consensus estimate of $2.19 by ($0.15). Unum Group had a return on equity of 14.17% and a net margin of 12.31%. The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.34 billion. During the same period in the previous year, the firm posted $2.12 EPS. The firm's revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, research analysts forecast that Unum Group will post 9.14 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the company's stock in a transaction that occurred 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 owned 51,170 shares in the company, valued at $4,093,600. This represents a 16.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.92% of the company's stock.

Hedge Funds Weigh In On Unum Group

A hedge fund recently bought a new stake in Unum Group stock. Brighton Jones LLC bought a new stake in shares of Unum Group (NYSE:UNM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,385 shares of the financial services provider's stock, valued at approximately $247,000. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

UNM has been the subject of a number of recent research reports. Keefe, Bruyette & Woods dropped their target price on Unum Group from $103.00 to $102.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. UBS Group set a $89.00 target price on Unum Group and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Morgan Stanley boosted their target price on Unum Group from $76.00 to $83.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Wells Fargo & Company boosted their target price on Unum Group from $97.00 to $105.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Finally, Piper Sandler boosted their target price on Unum Group from $88.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $90.00.

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.