Impact Partnership Wealth LLC Buys New Position in Unum Group (NYSE:UNM)

Impact Partnership Wealth LLC bought a new stake in shares of Unum Group (NYSE:UNM) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 5,394 shares of the financial services provider’s stock, valued at approximately $276,000.

Several other large investors have also added to or reduced their stakes in the company. Consolidated Planning Corp grew its stake in Unum Group by 48.3% during the 2nd quarter. Consolidated Planning Corp now owns 8,382 shares of the financial services provider’s stock valued at $428,000 after purchasing an additional 2,730 shares during the last quarter. Versor Investments LP purchased a new stake in Unum Group during the 2nd quarter valued at about $715,000. Natixis Advisors LLC grew its stake in Unum Group by 3.3% during the 2nd quarter. Natixis Advisors LLC now owns 27,296 shares of the financial services provider’s stock valued at $1,395,000 after purchasing an additional 873 shares during the last quarter. Waterfront Wealth Inc. grew its stake in Unum Group by 12.1% during the 2nd quarter. Waterfront Wealth Inc. now owns 33,984 shares of the financial services provider’s stock valued at $1,737,000 after purchasing an additional 3,658 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in Unum Group during the 2nd quarter valued at about $358,000. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Insider Buying and Selling at Unum Group

In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $54.11, for a total transaction of $541,100.00. Following the completion of the transaction, the executive vice president now owns 64,821 shares of the company’s stock, valued at $3,507,464.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.93% of the company’s stock.

Unum Group Stock Performance

Shares of UNM stock opened at $55.26 on Friday. The company has a market capitalization of $10.47 billion, a P/E ratio of 8.21, a P/E/G ratio of 0.82 and a beta of 0.81. The business’s 50 day moving average is $53.49 and its two-hundred day moving average is $52.19. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.33. Unum Group has a 12-month low of $41.75 and a 12-month high of $58.17.

Unum Group (NYSE:UNM) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the prior year, the business posted $2.06 earnings per share. Unum Group’s revenue for the quarter was up 3.9% on a year-over-year basis. Analysts expect that Unum Group will post 8.5 EPS for the current fiscal year.

Unum Group announced that its board has approved a stock repurchase plan on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 10% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Unum Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, July 26th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.04%. This is a boost from Unum Group’s previous quarterly dividend of $0.37. Unum Group’s dividend payout ratio is presently 24.96%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Citigroup boosted their price target on Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group upped their target price on Unum Group from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Evercore ISI upped their target price on Unum Group from $56.00 to $58.00 and gave the stock an “in-line” rating in a research note on Wednesday, June 26th. Truist Financial upped their target price on Unum Group from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company upped their target price on Unum Group from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $62.90.

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.