Pallas Capital Advisors LLC Acquires 666 Shares of Unum Group (NYSE:UNM)

Pallas Capital Advisors LLC boosted its holdings in shares of Unum Group (NYSE:UNM) by 14.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,151 shares of the financial services provider’s stock after buying an additional 666 shares during the period. Pallas Capital Advisors LLC’s holdings in Unum Group were worth $420,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Bessemer Group Inc. boosted its stake in Unum Group by 2.2% during the fourth quarter. Bessemer Group Inc. now owns 6,536 shares of the financial services provider’s stock valued at $478,000 after buying an additional 143 shares during the period. Kovitz Investment Group Partners LLC boosted its stake in Unum Group by 0.8% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 18,211 shares of the financial services provider’s stock valued at $1,330,000 after buying an additional 147 shares during the period. QRG Capital Management Inc. boosted its stake in Unum Group by 1.4% during the fourth quarter. QRG Capital Management Inc. now owns 13,336 shares of the financial services provider’s stock valued at $974,000 after buying an additional 189 shares during the period. Belpointe Asset Management LLC boosted its stake in Unum Group by 2.1% during the fourth quarter. Belpointe Asset Management LLC now owns 9,151 shares of the financial services provider’s stock valued at $668,000 after buying an additional 189 shares during the period. Finally, Sculati Wealth Management LLC boosted its stake in Unum Group by 0.5% during the fourth quarter. Sculati Wealth Management LLC now owns 38,901 shares of the financial services provider’s stock valued at $2,841,000 after buying an additional 200 shares during the period. Institutional investors own 86.57% of the company’s stock.

Unum Group Stock Up 0.8%

Shares of NYSE:UNM opened at $79.28 on Friday. Unum Group has a 1 year low of $48.38 and a 1 year high of $84.48. The company has a market cap of $13.82 billion, a PE ratio of 8.37, a P/E/G ratio of 1.14 and a beta of 0.43. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.28. The stock’s 50-day moving average is $78.85 and its 200 day moving average is $77.08.

Unum Group (NYSE:UNM) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $2.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.15). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter in the prior year, the firm earned $2.12 EPS. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. Sell-side analysts anticipate that Unum Group will post 9.14 EPS for the current year.

Unum Group announced that its Board of Directors has approved a share repurchase program on Tuesday, February 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 7.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Unum Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 25th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, April 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.12%. Unum Group’s dividend payout ratio (DPR) is 19.79%.

Insiders Place Their Bets

In other news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $80.00, for a total value of $800,000.00. Following the sale, the executive vice president now directly owns 51,170 shares of the company’s stock, valued at $4,093,600. The trade was a 16.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.92% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Piper Sandler lifted their price target on Unum Group from $87.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 2nd. Barclays lifted their price target on Unum Group from $85.00 to $89.00 and gave the stock an “overweight” rating in a research note on Friday, April 11th. Raymond James raised Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 price target for the company in a research note on Wednesday, March 5th. BMO Capital Markets lifted their price target on Unum Group from $95.00 to $102.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Finally, Wells Fargo & Company lifted their price target on Unum Group from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Unum Group has an average rating of “Moderate Buy” and an average price target of $88.29.

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.