Janney Montgomery Scott LLC Lowers Stock Holdings in Unum Group (NYSE:UNM)

Posted by Defense World Staff on Apr 21st, 2023

Janney Montgomery Scott LLC lowered its holdings in shares of Unum Group (NYSE:UNM – Get Rating) by 13.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 146,314 shares of the financial services provider’s stock after selling 22,451 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.07% of Unum Group worth $6,003,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Echo Street Capital Management LLC boosted its position in Unum Group by 1.5% during the third quarter. Echo Street Capital Management LLC now owns 17,542 shares of the financial services provider’s stock worth $681,000 after purchasing an additional 255 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Unum Group by 6.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 4,940 shares of the financial services provider’s stock valued at $192,000 after acquiring an additional 290 shares during the last quarter. GPS Wealth Strategies Group LLC raised its holdings in shares of Unum Group by 1.2% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 25,938 shares of the financial services provider’s stock valued at $1,064,000 after acquiring an additional 309 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Unum Group by 5.3% during the third quarter. Exchange Traded Concepts LLC now owns 6,194 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 311 shares during the last quarter. Finally, Balentine LLC raised its holdings in shares of Unum Group by 4.1% during the fourth quarter. Balentine LLC now owns 8,103 shares of the financial services provider’s stock valued at $332,000 after acquiring an additional 319 shares during the last quarter. Hedge funds and other institutional investors own 79.64% of the company’s stock.

Insider Activity at Unum Group

In related news, EVP Lisa G. Iglesias sold 14,972 shares of Unum Group stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $45.02, for a total value of $674,039.44. Following the completion of the transaction, the executive vice president now directly owns 63,333 shares in the company, valued at $2,851,251.66. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Unum Group news, Director Gloria C. Larson purchased 3,270 shares of the business’s stock in a transaction on Tuesday, March 14th. The shares were bought at an average cost of $39.78 per share, for a total transaction of $130,080.60. Following the completion of the purchase, the director now directly owns 119,846 shares in the company, valued at $4,767,473.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa G. Iglesias sold 14,972 shares of the firm’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $45.02, for a total value of $674,039.44. Following the completion of the sale, the executive vice president now owns 63,333 shares in the company, valued at $2,851,251.66. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by company insiders.

Unum Group Trading Down 0.5 %

UNM opened at $41.23 on Friday. Unum Group has a 52 week low of $30.21 and a 52 week high of $46.64. The business has a fifty day simple moving average of $40.98 and a 200-day simple moving average of $41.43. The firm has a market cap of $8.15 billion, a P/E ratio of 6.33, a P/E/G ratio of 0.82 and a beta of 1.06. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.37.

Unum Group (NYSE:UNM – Get Rating) last released its quarterly earnings results on Wednesday, February 1st. The financial services provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.03). Unum Group had a return on equity of 13.14% and a net margin of 10.96%. The firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the prior year, the business earned $0.89 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. On average, equities analysts expect that Unum Group will post 6.72 earnings per share for the current year.

Unum Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 19th. Investors of record on Friday, April 28th will be issued a $0.33 dividend. The ex-dividend date is Thursday, April 27th. This represents a $1.32 dividend on an annualized basis and a yield of 3.20%. Unum Group’s dividend payout ratio (DPR) is presently 20.28%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Citigroup raised Unum Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $49.00 to $53.00 in a report on Wednesday, March 15th. Keefe, Bruyette & Woods raised Unum Group from a “market perform” rating to an “outperform” rating and increased their price target for the company from $49.00 to $52.00 in a report on Tuesday, March 14th. StockNews.com started coverage on Unum Group in a report on Thursday, March 16th. They issued a “buy” rating for the company. Jefferies Financial Group upgraded Unum Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $44.00 to $50.00 in a research report on Monday, March 20th. Finally, Morgan Stanley increased their price objective on Unum Group from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 23rd. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $45.50.

Unum Group Profile

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Unum Group engages in the provision of financial protection benefits. Its services include disability, life, accident, critical illness, dental, vision, and other related services. It operates through the following segments: Unum US, Unum International, Colonial Life, Closed Block, and Corporate. The Unum US segment focuses on group disability, group life and accidental death and dismemberment products, and supplemental and voluntary lines of business.