7,380 Shares in Unum Group (NYSE:UNM) Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC bought a new position in shares of Unum Group (NYSE:UNM) in the second quarter, Holdings Channel reports. The fund bought 7,380 shares of the financial services provider’s stock, valued at approximately $377,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Unum Group by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 20,590,655 shares of the financial services provider’s stock worth $931,109,000 after acquiring an additional 300,840 shares in the last quarter. Norges Bank acquired a new position in shares of Unum Group in the 4th quarter valued at $590,489,000. Donald Smith & CO. Inc. boosted its position in shares of Unum Group by 4.6% in the 4th quarter. Donald Smith & CO. Inc. now owns 3,687,182 shares of the financial services provider’s stock valued at $166,734,000 after purchasing an additional 163,682 shares during the period. Nordea Investment Management AB raised its holdings in Unum Group by 51.7% during the 1st quarter. Nordea Investment Management AB now owns 2,961,539 shares of the financial services provider’s stock worth $158,590,000 after buying an additional 1,008,776 shares during the period. Finally, LSV Asset Management lifted its stake in Unum Group by 2.6% during the fourth quarter. LSV Asset Management now owns 2,930,577 shares of the financial services provider’s stock valued at $132,521,000 after buying an additional 73,700 shares in the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of Unum Group from $62.00 to $69.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Evercore ISI lifted their price objective on shares of Unum Group from $56.00 to $58.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 26th. Truist Financial increased their target price on Unum Group from $62.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Piper Sandler began coverage on Unum Group in a report on Thursday, July 11th. They set an “overweight” rating and a $57.00 price target on the stock. Finally, Jefferies Financial Group increased their price objective on Unum Group from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.78.

Unum Group Stock Down 0.4 %

Shares of NYSE UNM traded down $0.23 during mid-day trading on Wednesday, reaching $53.83. The company had a trading volume of 982,065 shares, compared to its average volume of 1,251,906. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.28 and a current ratio of 0.28. Unum Group has a twelve month low of $41.75 and a twelve month high of $58.17. The stock’s 50 day moving average is $52.41 and its 200-day moving average is $51.68. The stock has a market capitalization of $10.00 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 0.76 and a beta of 0.81.

Unum Group (NYSE:UNM) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.14. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the previous year, the company posted $2.06 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts anticipate that Unum Group will post 8.51 earnings per share for the current fiscal year.

Unum Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, July 26th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.12%. The ex-dividend date was Friday, July 26th. This is a positive change from Unum Group’s previous quarterly dividend of $0.37. Unum Group’s dividend payout ratio (DPR) is presently 24.96%.

Unum Group announced that its board has authorized a stock buyback program on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 10% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insider Activity at Unum Group

In related news, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total value of $541,100.00. Following the completion of the sale, the executive vice president now owns 64,821 shares of the company’s stock, valued at approximately $3,507,464.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.93% of the company’s stock.

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.