Forvis Mazars Wealth Advisors LLC Reduces Position in Unum Group (NYSE:UNM)

Forvis Mazars Wealth Advisors LLC decreased its holdings in Unum Group (NYSE:UNM) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,137 shares of the financial services provider’s stock after selling 716 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Unum Group were worth $2,201,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Barrett & Company Inc. raised its holdings in Unum Group by 300.0% during the 4th quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 297 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Unum Group in the third quarter valued at $31,000. Kestra Investment Management LLC bought a new stake in shares of Unum Group during the 4th quarter valued at $38,000. Quarry LP lifted its holdings in Unum Group by 4,794.7% during the 3rd quarter. Quarry LP now owns 930 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 911 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in Unum Group by 26.4% in the 4th quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 160 shares during the period. Institutional investors own 86.57% of the company’s stock.

Wall Street Analyst Weigh In

UNM has been the topic of several analyst reports. Piper Sandler upped their price target on Unum Group from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Truist Financial upped their target price on shares of Unum Group from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 1st. BMO Capital Markets assumed coverage on shares of Unum Group in a report on Thursday, January 23rd. They issued an “outperform” rating and a $91.00 price target for the company. Barclays upped their price target on shares of Unum Group from $76.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, StockNews.com raised Unum Group from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.17.

Insider Activity

In other news, EVP Timothy Gerald Arnold sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $76.92, for a total value of $769,200.00. Following the completion of the sale, the executive vice president now owns 54,827 shares of the company’s stock, valued at approximately $4,217,292.84. The trade was a 15.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.93% of the stock is owned by corporate insiders.

Unum Group Trading Down 1.0 %

Shares of UNM stock opened at $74.07 on Monday. The business has a 50-day moving average price of $74.28 and a two-hundred day moving average price of $66.95. Unum Group has a 12-month low of $48.38 and a 12-month high of $79.43. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32. The firm has a market cap of $13.53 billion, a P/E ratio of 7.82, a price-to-earnings-growth ratio of 1.14 and a beta of 0.80.

Unum Group (NYSE:UNM) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. Equities analysts anticipate that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.27%. Unum Group’s dividend payout ratio (DPR) is 17.74%.

Unum Group announced that its Board of Directors has authorized a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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.