Charles Schwab Investment Management Inc. Raises Position in Unum Group (NYSE:UNM)

Charles Schwab Investment Management Inc. raised its holdings in Unum Group (NYSE:UNM) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,680,940 shares of the financial services provider’s stock after buying an additional 140,523 shares during the period. Charles Schwab Investment Management Inc. owned approximately 2.39% of Unum Group worth $223,281,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Raleigh Capital Management Inc. acquired a new stake in shares of Unum Group in the 2nd quarter valued at $27,000. Tower Research Capital LLC TRC raised its holdings in shares of Unum Group by 271.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 28,110 shares of the financial services provider’s stock valued at $1,112,000 after purchasing an additional 20,534 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Unum Group by 122.4% in the 2nd quarter. Nordea Investment Management AB now owns 1,174,537 shares of the financial services provider’s stock valued at $55,920,000 after purchasing an additional 646,428 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Unum Group by 4.4% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,607 shares of the financial services provider’s stock valued at $267,000 after purchasing an additional 234 shares in the last quarter. Finally, NewSquare Capital LLC raised its holdings in shares of Unum Group by 4.9% in the 2nd quarter. NewSquare Capital LLC now owns 211,184 shares of the financial services provider’s stock valued at $10,073,000 after purchasing an additional 9,932 shares in the last quarter. Hedge funds and other institutional investors own 79.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Truist Financial reduced their price objective on shares of Unum Group from $59.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Wells Fargo & Company lifted their price target on shares of Unum Group from $62.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 15th. Jefferies Financial Group lifted their price target on shares of Unum Group from $55.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, September 14th. Morgan Stanley cut their price target on shares of Unum Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, StockNews.com upgraded shares of Unum Group from a “hold” rating to a “buy” rating in a research note on Monday, November 13th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.50.

Unum Group Trading Up 1.2 %

Shares of Unum Group stock opened at $42.61 on Friday. Unum Group has a 1 year low of $36.27 and a 1 year high of $52.15. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $8.31 billion, a P/E ratio of 6.88, a PEG ratio of 0.79 and a beta of 1.07. The company’s fifty day moving average is $47.65 and its two-hundred day moving average is $47.30.

Unum Group (NYSE:UNM) last issued its quarterly earnings data on Tuesday, October 31st. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.02. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.11 billion. Unum Group had a net margin of 10.07% and a return on equity of 15.54%. Unum Group’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the firm posted $1.51 EPS. Analysts forecast that Unum Group will post 7.72 earnings per share for the current year.

Unum Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Friday, October 27th were issued a $0.365 dividend. This represents a $1.46 annualized dividend and a dividend yield of 3.43%. The ex-dividend date was Thursday, October 26th. Unum Group’s payout ratio is 23.59%.

Unum Group announced that its Board of Directors has authorized a stock buyback plan on Tuesday, October 31st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 5.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

About Unum Group

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.