Modern Wealth Management LLC Makes New $203,000 Investment in Unum Group $UNM

Modern Wealth Management LLC bought a new position in shares of Unum Group (NYSE:UNM) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,494 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other institutional investors have also recently made changes to their positions in UNM. Zurich Insurance Group Ltd FI purchased a new stake in shares of Unum Group during the fourth quarter worth about $105,199,000. Invesco Ltd. lifted its stake in shares of Unum Group by 155.6% in the 1st quarter. Invesco Ltd. now owns 2,278,473 shares of the financial services provider’s stock valued at $185,604,000 after purchasing an additional 1,387,139 shares during the last quarter. Nuveen LLC bought a new stake in shares of Unum Group in the 1st quarter valued at approximately $93,287,000. Teewinot Capital Advisers L.L.C. bought a new stake in shares of Unum Group during the 1st quarter worth approximately $58,881,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Unum Group by 228.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,033,700 shares of the financial services provider’s stock worth $84,205,000 after acquiring an additional 719,152 shares during the last quarter. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on UNM. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $95.00 target price (down from $100.00) on shares of Unum Group in a report on Thursday, July 31st. 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 note on Thursday, July 3rd. Barclays set a $96.00 target price on Unum Group and gave the stock an “overweight” rating in a research note on Monday, July 7th. UBS Group set a $87.00 price target on Unum Group and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company decreased their price objective on Unum Group from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.14.

Unum Group Trading Down 0.9%

UNM opened at $74.21 on Wednesday. Unum Group has a 52 week low of $56.07 and a 52 week high of $84.48. The business has a fifty day simple moving average of $73.80 and a 200-day simple moving average of $77.39. The firm has a market cap of $12.64 billion, a P/E ratio of 8.88, a P/E/G ratio of 1.26 and a beta of 0.38. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.31.

Unum Group (NYSE:UNM) last released its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $2.07 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.16). Unum Group had a return on equity of 13.44% and a net margin of 11.77%.The firm had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter in the prior year, the business earned $2.16 earnings per share. The company’s quarterly 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. On average, equities analysts expect that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were given a dividend of $0.46 per share. This is an increase from Unum Group’s previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Friday, July 25th. Unum Group’s dividend payout ratio (DPR) is 22.01%.

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.