Convergence Investment Partners LLC Has $1.17 Million Stock Position in Unum Group $UNM

Convergence Investment Partners LLC trimmed its position in Unum Group (NYSE:UNM) by 37.7% in the second quarter, Holdings Channel.com reports. 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 filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of UNM. Brighton Jones LLC acquired a new stake in shares of Unum Group in the fourth quarter worth $247,000. GAMMA Investing LLC lifted its stake in shares of Unum Group by 11.9% in the first quarter. GAMMA Investing LLC now owns 8,834 shares of the financial services provider’s stock worth $720,000 after buying an additional 941 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Unum Group by 3.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 34,243 shares of the financial services provider’s stock worth $2,789,000 after buying an additional 1,173 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of Unum Group by 88.4% in the first quarter. Asset Management One Co. Ltd. now owns 17,302 shares of the financial services provider’s stock worth $1,409,000 after buying an additional 8,120 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of Unum Group by 3.2% in the first quarter. Bessemer Group Inc. now owns 6,744 shares of the financial services provider’s stock worth $549,000 after buying an additional 208 shares during the last quarter. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on UNM shares. Morgan Stanley upped their target price on shares of Unum Group from $79.00 to $81.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $95.00 target price (down from $100.00) on shares of Unum Group in a research note on Thursday, July 31st. Wells Fargo & Company cut their target price on shares of Unum Group from $100.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, October 8th. Barclays upped their target price on shares of Unum Group from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Finally, Piper Sandler upped their target price on shares of Unum Group from $88.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, July 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.23.

Unum Group Trading Down 0.3%

Shares of Unum Group stock opened at $75.85 on Tuesday. The firm 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 debt-to-equity ratio of 0.31, a current ratio of 0.30 and a quick ratio of 0.30. The company’s fifty day moving average price is $74.59 and its two-hundred day moving average price is $76.93. Unum Group has a 52-week low of $61.37 and a 52-week high of $84.48.

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

Unum Group Announces Dividend

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

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.