Unum Group $UNM Stock Holdings Decreased by Convergence Investment Partners LLC

Convergence Investment Partners LLC reduced its position in Unum Group (NYSE:UNM) by 37.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,484 shares of the financial services provider’s stock after selling 8,773 shares during the period. Convergence Investment Partners LLC’s holdings in Unum Group were worth $1,170,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of Unum Group by 4.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,816,520 shares of the financial services provider’s stock worth $473,814,000 after acquiring an additional 264,268 shares in the last quarter. Invesco Ltd. increased its position in shares of Unum Group by 155.6% in the first quarter. Invesco Ltd. now owns 2,278,473 shares of the financial services provider’s stock worth $185,604,000 after acquiring an additional 1,387,139 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Unum Group by 13.1% in the first quarter. Victory Capital Management Inc. now owns 1,654,489 shares of the financial services provider’s stock worth $134,775,000 after acquiring an additional 191,572 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Unum Group by 11.5% during the second quarter. Allianz Asset Management GmbH now owns 1,537,189 shares of the financial services provider’s stock worth $124,143,000 after purchasing an additional 159,084 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Unum Group by 3.6% during the second quarter. Nordea Investment Management AB now owns 1,482,096 shares of the financial services provider’s stock worth $119,235,000 after purchasing an additional 51,750 shares during the period. 86.57% of the stock is owned by hedge funds and other institutional investors.

Unum Group Price Performance

NYSE UNM opened at $75.85 on Tuesday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $12.92 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 1.25 and a beta of 0.36. The company has a 50 day moving average price of $74.59 and a two-hundred day moving average price of $76.93. Unum Group has a 12-month low of $61.37 and a 12-month high of $84.48.

Unum Group (NYSE:UNM) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.16). The business had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.35 billion. Unum Group had a net margin of 11.77% and a return on equity of 13.44%. Unum Group’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.16 earnings per share. As a group, equities analysts predict that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 24th will be paid a $0.46 dividend. The ex-dividend date is Friday, October 24th. This represents a $1.84 dividend on an annualized basis and a yield of 2.4%. Unum Group’s payout ratio is 22.01%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Piper Sandler raised their price target on shares of Unum Group from $88.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. UBS Group set a $87.00 price target on shares of Unum Group and gave the stock a “neutral” rating in a report on Wednesday, July 30th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $95.00 price target (down from $100.00) on shares of Unum Group in a report on Thursday, July 31st. Morgan Stanley raised their price target on shares of Unum Group from $79.00 to $81.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Finally, Barclays raised their price target on shares of Unum Group from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.23.

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.