Point72 Asia Increases Stake in Unum Group (NYSE: UNM)

Point72 Asia Singapore Pte. Ltd. has significantly increased its investment in Unum Group (NYSE: UNM) by 116.8% during the third quarter. This information comes from the company's latest 13F filing with the SEC. Following their investment, Point72 Asia now owns a total of 26,886 shares in the financial services company after acquiring an additional 14,483 shares in that quarter. Based on the latest filing, the total value of Point72 Asia's holdings in Unum Group is approximately $1,598,000.

• Unum Group Soars: Shares Jump 7% After Upgraded Guidance

Alongside Point72 Asia, several other institutional investors have also adjusted their stakes in Unum Group lately. For instance, Charles Schwab Investment Management Inc. raised its stake in Unum by 1.0%, now holding 5,500,508 shares valued at about $326,950,000 after acquiring an additional 55,014 shares. Similarly, ProShare Advisors LLC boosted their holdings by 89.8% in the previous quarter, bringing their total to 1,207,756 shares worth $61,728,000. Victory Capital Management Inc. also increased its position by 5.9%, now owning 1,186,262 shares valued at $70,511,000 due to an extra purchase of 66,392 shares.

Wedge Capital Management L L P NC has also added to their stake, now holding 872,808 shares worth $44,609,000 after acquiring an additional 64,661 shares. Sei Investments Co. expanded its holdings by 9.5%, totaling 413,350 shares valued at $21,127,000 after a purchase of 35,723 shares. Overall, institutional and hedge fund investors hold 86.57% of Unum Group's stock.

Insider Transactions

In the realm of insider activity, EVP Elizabeth Claire Ahmed recently sold 5,000 shares of Unum's stock on October 31. The shares were sold for an average price of $64.16, totaling $320,800. Following the sale, she now owns 58,741 shares, valued at around $3,768,822.56, representing a 7.84% reduction in her stake. Another EVP, Christopher W. Pyne, sold 3,250 shares on November 6 at an average price of $70.02, amounting to $227,565.67. After this transaction, his stake stands at 50,762 shares with a value of approximately $3,554,355.24, indicating a 6.02% decline in ownership. In total, insiders have sold 165,709 shares of the company in the last three months, equivalent to $10,956,914, with insiders holding 0.93% of the stock.

Analyst Projections

Numerous equity analysts have weighed in on Unum Group's prospects. On October 9, UBS Group upgraded Unum Group to a "hold" rating. Meanwhile, Morgan Stanley increased their target price from $62 to $64 and issued an "equal weight" rating on October 30. Truist Financial improved their target price from $70 to $75 and rated the stock a "buy" on November 1. In contrast, JPMorgan Chase & Co. lowered their price target from $65 to $63 but affirmed an "overweight" rating. Evercore ISI upgraded Unum Group from an "in-line" rating to "outperform" and raised their target from $67 to $84 on November 14. Currently, four analysts have a hold rating while nine have given the stock a buy rating. According to MarketBeat, Unum Group holds an average rating of "Moderate Buy" with a target price of $67.73.

Performance Overview

Unum Group's stock opened at $76.90. The company’s fifty-day moving average is $65.87, and the 200-day moving average stands at $57.56. It has a market capitalization of $14.04 billion, a PE ratio of 8.32, and a price-to-earnings-growth ratio of 1.10. Unum's share price has ranged from a one-year low of $42.09 to a high of $77.63. Financially, the company shows a debt-to-equity ratio of 0.32 and both quick and current ratios at 0.28.

In its recent earnings announcement on October 29, Unum Group reported earnings of $2.13 per share, surpassing the consensus estimate of $2.10 by $0.03. The company generated revenue of $3.22 billion for the quarter, which was slightly below analyst expectations of $3.26 billion. The return on equity was recorded at 15.21%, with a net margin of 13.76%. Year-over-year, Unum's revenue increased by 4%, compared to the same quarter from the previous year when it earned $1.94 per share. Analysts expect Unum Group to post an EPS of 8.53 for the current fiscal year.

Dividend Payment Announced

Moreover, Unum Group has declared a quarterly dividend of $0.42 per share, which was paid on November 15. Shareholders who were on record as of October 25 received this payment, leading to an annualized dividend of $1.68, translating to a dividend yield of 2.18%. The company currently has a dividend payout ratio of 18.18%.

About Unum Group

Unum Group, along with its subsidiaries, provides various financial protection benefit solutions, primarily in the USA, UK, Poland, and abroad. It operates through segments such as Unum US, Unum International, Colonial Life, and Closed Block. The company offers a range of benefits, including group long-term and short-term disability, group life insurance, and accidental death coverage. Other offerings include supplemental individual products like disability, voluntary benefits, dental and vision plans, as well as accident, sickness, life, cancer, and critical illness products.

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