Prudential PLC Buys Shares of 11,802 Unum Group (NYSE:UNM)

Posted by on May 19th, 2023

Prudential PLC bought a new stake in Unum Group (NYSE:UNM – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,802 shares of the financial services provider’s stock, valued at approximately $484,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV boosted its position in shares of Unum Group by 18.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 21,761 shares of the financial services provider’s stock worth $893,000 after buying an additional 3,337 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Unum Group by 12.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 113,463 shares of the financial services provider’s stock worth $4,655,000 after buying an additional 12,941 shares during the period. Raymond James & Associates boosted its position in shares of Unum Group by 1.5% during the fourth quarter. Raymond James & Associates now owns 210,147 shares of the financial services provider’s stock worth $8,622,000 after buying an additional 3,089 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Unum Group by 47.3% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 948,000 shares of the financial services provider’s stock worth $38,896,000 after buying an additional 304,400 shares during the period. Finally, Affinity Investment Advisors LLC acquired a new position in shares of Unum Group during the fourth quarter worth about $1,194,000. 79.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wells Fargo & Company assumed coverage on Unum Group in a research report on Tuesday, April 25th. They set an “overweight” rating and a $57.00 price objective for the company. Morgan Stanley upped their target price on Unum Group from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Thursday, February 23rd. The Goldman Sachs Group dropped their target price on Unum Group from $51.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, April 5th. Citigroup upgraded Unum Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $49.00 to $53.00 in a research note on Wednesday, March 15th. Finally, StockNews.com began coverage on Unum Group in a research note on Thursday. They issued a “buy” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $47.00.

Insider Buying and Selling

In related news, EVP Christopher W. Pyne sold 5,579 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $44.82, for a total transaction of $250,050.78. Following the sale, the executive vice president now owns 50,084 shares of the company’s stock, valued at $2,244,764.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Unum Group news, CAO Walter Lynn Rice, Jr. sold 2,800 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $44.71, for a total value of $125,188.00. Following the sale, the chief accounting officer now owns 7,119 shares of the company’s stock, valued at approximately $318,290.49. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Christopher W. Pyne sold 5,579 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $44.82, for a total value of $250,050.78. Following the completion of the sale, the executive vice president now directly owns 50,084 shares in the company, valued at approximately $2,244,764.88. The disclosure for this sale can be found here. Insiders have sold 41,351 shares of company stock valued at $1,836,238 over the last 90 days. 0.94% of the stock is owned by corporate insiders.

Unum Group Price Performance

Shares of NYSE UNM opened at $46.42 on Friday. The firm has a market cap of $9.15 billion, a P/E ratio of 6.58, a price-to-earnings-growth ratio of 0.70 and a beta of 1.06. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.37. Unum Group has a 1-year low of $31.11 and a 1-year high of $46.64. The business’s 50 day moving average is $40.75 and its 200-day moving average is $41.51.

Unum Group (NYSE:UNM – Get Rating) last issued its quarterly earnings results on Tuesday, May 2nd. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.22. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.05 billion. Unum Group had a return on equity of 14.67% and a net margin of 11.78%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.36 earnings per share. Equities research analysts predict that Unum Group will post 7.24 earnings per share for the current year.

Unum Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 19th. Investors of record on Friday, April 28th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Thursday, April 27th. Unum Group’s dividend payout ratio is currently 18.70%.

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.

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Institutional Ownership by Quarter for Unum Group (NYSE:UNM)

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