Carret Asset Management LLC Sells 3,765 Shares of Unum Group (NYSE:UNM)

Carret Asset Management LLC lowered its position in Unum Group (NYSE:UNM) by 26.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,432 shares of the financial services provider’s stock after selling 3,765 shares during the quarter. Carret Asset Management LLC’s holdings in Unum Group were worth $560,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of Unum Group by 7.1% in the first quarter. GAMMA Investing LLC now owns 3,071 shares of the financial services provider’s stock valued at $165,000 after acquiring an additional 204 shares during the period. Caprock Group LLC raised its stake in shares of Unum Group by 3.0% in the fourth quarter. Caprock Group LLC now owns 8,004 shares of the financial services provider’s stock valued at $362,000 after acquiring an additional 230 shares during the period. Bank of Nova Scotia increased its stake in Unum Group by 2.8% in the 4th quarter. Bank of Nova Scotia now owns 9,193 shares of the financial services provider’s stock worth $416,000 after buying an additional 249 shares during the period. SummerHaven Investment Management LLC increased its stake in Unum Group by 1.7% in the 4th quarter. SummerHaven Investment Management LLC now owns 15,373 shares of the financial services provider’s stock worth $695,000 after buying an additional 251 shares during the period. Finally, Private Trust Co. NA increased its stake in Unum Group by 12.0% in the 4th quarter. Private Trust Co. NA now owns 2,385 shares of the financial services provider’s stock worth $108,000 after buying an additional 255 shares during the period. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Insider Activity

In other news, Director Timothy F. Keaney sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $52.61, for a total value of $420,880.00. Following the sale, the director now directly owns 37,505 shares in the company, valued at approximately $1,973,138.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Timothy F. Keaney sold 8,000 shares of Unum Group stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $52.61, for a total value of $420,880.00. Following the completion of the sale, the director now directly owns 37,505 shares in the company, valued at approximately $1,973,138.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher W. Pyne sold 4,500 shares of Unum Group stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $52.47, for a total transaction of $236,115.00. Following the completion of the sale, the executive vice president now owns 56,262 shares of the company’s stock, valued at $2,952,067.14. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

Unum Group Stock Down 1.7 %

NYSE:UNM opened at $50.62 on Thursday. Unum Group has a fifty-two week low of $41.75 and a fifty-two week high of $54.57. The stock has a market capitalization of $9.59 billion, a P/E ratio of 7.52, a P/E/G ratio of 1.09 and a beta of 0.81. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.28 and a current ratio of 0.28. The company’s 50-day simple moving average is $51.61 and its 200-day simple moving average is $49.86.

Unum Group (NYSE:UNM) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.15. Unum Group had a net margin of 10.52% and a return on equity of 16.02%. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.20 billion. During the same period last year, the business earned $1.87 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. On average, equities analysts anticipate that Unum Group will post 8.25 earnings per share for the current fiscal year.

Unum Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, April 26th were issued a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Thursday, April 25th. Unum Group’s dividend payout ratio is currently 21.69%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on UNM shares. Wells Fargo & Company raised their price target on shares of Unum Group from $64.00 to $66.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Morgan Stanley raised their price target on shares of Unum Group from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Truist Financial raised their target price on shares of Unum Group from $57.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. raised their target price on shares of Unum Group from $58.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Evercore ISI raised their target price on shares of Unum Group from $56.00 to $58.00 and gave the company an “in-line” rating in a research report on Wednesday, June 26th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.56.

Unum Group 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.