Lazard Asset Management LLC Raises Stock Holdings in Unum Group (NYSE:UNM)

Lazard Asset Management LLC boosted its holdings in shares of Unum Group (NYSE:UNM) by 20.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 411,467 shares of the financial services provider’s stock after buying an additional 69,928 shares during the period. Lazard Asset Management LLC owned approximately 0.22% of Unum Group worth $22,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in Unum Group by 7.1% during the 1st quarter. GAMMA Investing LLC now owns 3,071 shares of the financial services provider’s stock valued at $165,000 after buying an additional 204 shares in the last quarter. Caprock Group LLC increased its holdings in shares of Unum Group by 3.0% in the fourth quarter. Caprock Group LLC now owns 8,004 shares of the financial services provider’s stock valued at $362,000 after purchasing an additional 230 shares during the period. FinTrust Capital Advisors LLC increased its holdings in shares of Unum Group by 20.4% in the first quarter. FinTrust Capital Advisors LLC now owns 1,457 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 247 shares during the period. Bank of Nova Scotia increased its holdings in shares of Unum Group by 2.8% in the fourth quarter. Bank of Nova Scotia now owns 9,193 shares of the financial services provider’s stock valued at $416,000 after purchasing an additional 249 shares during the period. Finally, SummerHaven Investment Management LLC increased its holdings in shares of Unum Group by 1.7% in the fourth quarter. SummerHaven Investment Management LLC now owns 15,373 shares of the financial services provider’s stock valued at $695,000 after purchasing an additional 251 shares during the period. 86.57% of the stock is owned by institutional investors and hedge funds.

Unum Group Stock Performance

NYSE UNM opened at $53.24 on Monday. The company has a market cap of $10.08 billion, a PE ratio of 7.91, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81. The stock’s 50 day simple moving average is $51.72 and its 200-day simple moving average is $50.76. Unum Group has a 1-year low of $41.75 and a 1-year high of $54.66. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.28 and a quick ratio of 0.28.

Unum Group (NYSE:UNM) last released its earnings results on Tuesday, April 30th. The financial services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.15. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.20 billion. Unum Group had a return on equity of 16.02% and a net margin of 10.52%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.87 earnings per share. As a group, equities research analysts anticipate that Unum Group will post 8.25 EPS for the current fiscal year.

Unum Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Friday, July 26th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Friday, July 26th. This is a boost from Unum Group’s previous quarterly dividend of $0.37. Unum Group’s dividend payout ratio (DPR) is currently 24.96%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on UNM. Citigroup increased their price objective on Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Jefferies Financial Group increased their price objective on Unum Group from $63.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Piper Sandler began coverage on Unum Group in a report on Thursday, July 11th. They issued an “overweight” rating and a $57.00 price objective on the stock. Wells Fargo & Company raised their target price on Unum Group from $64.00 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, Evercore ISI raised their target price on Unum Group from $56.00 to $58.00 and gave the stock an “in-line” rating in a report on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.44.

Insider Activity at Unum Group

In related news, Director Timothy F. Keaney sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $52.61, for a total value of $420,880.00. Following the completion of the sale, the director now owns 37,505 shares of the company’s stock, valued at $1,973,138.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Timothy F. Keaney sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $52.61, for a total value of $420,880.00. Following the completion of the sale, the director now owns 37,505 shares of the company’s stock, valued at $1,973,138.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Christopher W. Pyne sold 4,500 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $52.47, for a total value of $236,115.00. Following the completion of the sale, the executive vice president now directly owns 56,262 shares of the company’s stock, valued at approximately $2,952,067.14. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

Unum Group Company 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.