MAI Capital Management Purchases 6,869 Shares of Unum Group (NYSE:UNM)

Posted by Defense World Staff on Aug 21st, 2023

MAI Capital Management raised its position in shares of Unum Group (NYSE:UNM – Free Report) by 25.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,514 shares of the financial services provider’s stock after purchasing an additional 6,869 shares during the quarter. MAI Capital Management’s holdings in Unum Group were worth $1,326,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Ahrens Investment Partners LLC bought a new stake in shares of Unum Group during the first quarter valued at approximately $44,000. Machina Capital S.A.S. purchased a new stake in Unum Group during the 1st quarter valued at $63,000. Allworth Financial LP increased its holdings in shares of Unum Group by 197.6% in the 1st quarter. Allworth Financial LP now owns 1,860 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 1,235 shares in the last quarter. New England Capital Financial Advisors LLC purchased a new position in shares of Unum Group in the fourth quarter worth $77,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Unum Group by 103.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,006 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 1,528 shares in the last quarter. 78.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on UNM. StockNews.com initiated coverage on Unum Group in a report on Thursday. They issued a “buy” rating for the company. Truist Financial boosted their price objective on shares of Unum Group from $54.00 to $59.00 and gave the company a “buy” rating in a report on Friday, August 4th. Wells Fargo & Company raised their target price on shares of Unum Group from $62.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. Morgan Stanley lifted their target price on shares of Unum Group from $52.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Citigroup increased their price target on Unum Group from $56.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Unum Group presently has an average rating of “Moderate Buy” and an average target price of $52.78.

View Our Latest Research Report on UNM

Insider Transactions at Unum Group

In related news, EVP Christopher W. Pyne sold 3,750 shares of Unum Group stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $49.02, for a total transaction of $183,825.00. Following the transaction, the executive vice president now owns 46,334 shares in the company, valued at approximately $2,271,292.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Christopher W. Pyne sold 3,750 shares of Unum Group stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $49.02, for a total transaction of $183,825.00. Following the sale, the executive vice president now owns 46,334 shares of the company’s stock, valued at approximately $2,271,292.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $45.00, for a total value of $450,000.00. Following the completion of the transaction, the executive vice president now owns 92,053 shares of the company’s stock, valued at $4,142,385. The disclosure for this sale can be found here. Insiders sold a total of 38,750 shares of company stock valued at $1,856,275 over the last three months. Corporate insiders own 0.77% of the company’s stock.

Unum Group Trading Down 0.6 %

NYSE:UNM opened at $48.79 on Monday. Unum Group has a one year low of $36.27 and a one year high of $51.15. The business has a fifty day moving average price of $47.97 and a 200-day moving average price of $44.25. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 6.77, a price-to-earnings-growth ratio of 0.87 and a beta of 1.08. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.29 and a quick ratio of 0.29.

Unum Group (NYSE:UNM – Get Free Report) last issued its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.19. Unum Group had a return on equity of 15.10% and a net margin of 11.90%. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Sell-side analysts forecast that Unum Group will post 7.66 EPS for the current year.

Unum Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Friday, July 28th were issued a dividend of $0.365 per share. The ex-dividend date was Thursday, July 27th. This represents a $1.46 annualized dividend and a yield of 2.99%. This is an increase from Unum Group’s previous quarterly dividend of $0.33. Unum Group’s payout ratio is currently 20.25%.

About Unum Group

(Free Report)

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 and Corporate segments. 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.