Patten & Patten Inc. TN Has $1.08 Million Stock Holdings in Unum Group (NYSE:UNM)

Patten & Patten Inc. TN lowered its stake in Unum Group (NYSE:UNM) by 1.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,202 shares of the financial services provider’s stock after selling 140 shares during the quarter. Patten & Patten Inc. TN’s holdings in Unum Group were worth $1,075,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Norden Group LLC bought a new stake in Unum Group in the first quarter valued at about $806,000. LPL Financial LLC boosted its holdings in Unum Group by 1.5% during the first quarter. LPL Financial LLC now owns 301,684 shares of the financial services provider’s stock worth $24,575,000 after buying an additional 4,455 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Unum Group by 724.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 372,978 shares of the financial services provider’s stock worth $30,383,000 after buying an additional 327,711 shares during the period. HB Wealth Management LLC increased its stake in shares of Unum Group by 44.5% in the 1st quarter. HB Wealth Management LLC now owns 8,565 shares of the financial services provider’s stock valued at $698,000 after acquiring an additional 2,637 shares during the last quarter. Finally, Prossimo Advisors LLC increased its stake in shares of Unum Group by 5.5% in the 1st quarter. Prossimo Advisors LLC now owns 6,338 shares of the financial services provider’s stock valued at $516,000 after acquiring an additional 329 shares during the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

Insider Buying and Selling

In related news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $80.00, for a total value of $800,000.00. Following the completion of the transaction, the executive vice president owned 51,170 shares of the company’s stock, valued at approximately $4,093,600. This trade represents a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.93% of the company’s stock.

Unum Group Stock Down 0.8%

UNM stock opened at $80.09 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $13.96 billion, a P/E ratio of 9.43, a P/E/G ratio of 1.27 and a beta of 0.41. Unum Group has a fifty-two week low of $51.80 and a fifty-two week high of $84.48. The business has a 50-day moving average of $80.27 and a 200-day moving average of $78.53.

Unum Group (NYSE:UNM) last released its earnings results on Tuesday, April 29th. The financial services provider reported $2.04 EPS for the quarter, missing the consensus estimate of $2.19 by ($0.15). The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.34 billion. Unum Group had a net margin of 12.31% and a return on equity of 14.17%. The company’s revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.12 EPS. On average, sell-side analysts anticipate that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Friday, July 25th. This is a positive change from Unum Group’s previous quarterly dividend of $0.42. Unum Group’s payout ratio is currently 21.67%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on UNM shares. Piper Sandler lifted their price objective on shares of Unum Group from $88.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, July 3rd. Morgan Stanley lifted their price target on shares of Unum Group from $83.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. Keefe, Bruyette & Woods decreased their price target on shares of Unum Group from $103.00 to $102.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company upped their price objective on shares of Unum Group from $97.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Finally, Barclays set a $96.00 target price on Unum Group and gave the stock an “overweight” rating in a report on Monday, July 7th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $91.77.

Unum Group Company 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.