Victory Capital Management Inc. Raises Stock Holdings in Unum Group (NYSE:UNM)

Posted by admin on Aug 5th, 2022

Victory Capital Management Inc. increased its position in Unum Group (NYSE:UNM – Get Rating) by 1,264.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 720,784 shares of the financial services provider’s stock after buying an additional 667,949 shares during the quarter. Victory Capital Management Inc.’s holdings in Unum Group were worth $22,643,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Carl P. Sherr & Co. LLC purchased a new position in Unum Group during the 1st quarter valued at $209,000. XML Financial LLC increased its position in Unum Group by 10.7% during the 1st quarter. XML Financial LLC now owns 20,650 shares of the financial services provider’s stock valued at $651,000 after purchasing an additional 2,000 shares during the period. WBI Investments Inc. increased its position in Unum Group by 184.5% during the 1st quarter. WBI Investments Inc. now owns 205,728 shares of the financial services provider’s stock valued at $6,450,000 after purchasing an additional 133,411 shares during the period. Mutual of America Capital Management LLC increased its position in Unum Group by 2.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 186,433 shares of the financial services provider’s stock valued at $5,875,000 after purchasing an additional 3,573 shares during the period. Finally, Jones Financial Companies Lllp purchased a new position in Unum Group during the 1st quarter valued at $37,000. 85.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on UNM shares. Evercore ISI boosted their price objective on shares of Unum Group from $35.00 to $37.00 and gave the company an “in-line” rating in a research report on Wednesday, July 6th. The Goldman Sachs Group boosted their target price on shares of Unum Group from $36.00 to $40.00 and gave the company a “buy” rating in a report on Monday, June 6th. Credit Suisse Group boosted their target price on shares of Unum Group from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, June 29th. StockNews.com cut shares of Unum Group from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Barclays dropped their target price on shares of Unum Group from $35.00 to $33.00 and set an “underweight” rating on the stock in a report on Wednesday, July 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Unum Group presently has an average rating of “Hold” and a consensus target price of $32.56.

Insider Activity

In other news, CEO Richard P. Mckenney sold 35,271 shares of the company’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $36.49, for a total transaction of $1,287,038.79. Following the completion of the sale, the chief executive officer now owns 990,367 shares of the company’s stock, valued at approximately $36,138,491.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Richard P. Mckenney sold 35,271 shares of the stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $36.49, for a total value of $1,287,038.79. Following the completion of the sale, the chief executive officer now directly owns 990,367 shares of the company’s stock, valued at approximately $36,138,491.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Cherie Pashley sold 7,033 shares of the stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $35.68, for a total transaction of $250,937.44. Following the completion of the sale, the chief accounting officer now directly owns 18,413 shares of the company’s stock, valued at $656,975.84. The disclosure for this sale can be found here. Insiders sold 49,453 shares of company stock valued at $1,789,121 in the last quarter. 0.77% of the stock is currently owned by insiders.

Unum Group Price Performance

UNM opened at $35.20 on Friday. Unum Group has a 52-week low of $22.25 and a 52-week high of $37.49. The stock has a market capitalization of $7.08 billion, a P/E ratio of 6.45, a P/E/G ratio of 0.52 and a beta of 1.29. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.29 and a current ratio of 0.29. The company’s 50-day simple moving average is $33.83 and its two-hundred day simple moving average is $31.51.

Unum Group (NYSE:UNM – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The financial services provider reported $1.36 EPS for the quarter, beating the consensus estimate of $0.81 by $0.55. Unum Group had a net margin of 9.29% and a return on equity of 9.56%. The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same quarter in the prior year, the firm earned $1.04 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, analysts predict that Unum Group will post 5.16 EPS for the current year.

Unum Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Friday, July 29th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $1.32 annualized dividend and a dividend yield of 3.75%. This is a positive change from Unum Group’s previous quarterly dividend of $0.30. Unum Group’s dividend payout ratio is presently 24.18%.

Unum Group Company Profile

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Unum Group, together with its subsidiaries, provides financial protection benefit solutions primarily in the United States, the United Kingdom, and Poland. It operates through Unum US, Unum International, Colonial Life, and Closed Block segments. 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.