Freestone Grove Partners LP Acquires New Position in Unum Group $UNM

by · The Cerbat Gem

Freestone Grove Partners LP bought a new position in Unum Group (NYSE:UNM – Free Report) in the second quarter, Holdings Channel reports. The institutional investor bought 548,830 shares of the financial services provider’s stock, valued at approximately $49,065,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC purchased a new position in shares of Unum Group during the fourth quarter worth approximately $247,000. EverSource Wealth Advisors LLC boosted its stake in shares of Unum Group by 157.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,851 shares of the financial services provider’s stock valued at $149,000 after purchasing an additional 1,132 shares in the last quarter. Baird Financial Group Inc. boosted its stake in shares of Unum Group by 26.6% in the 2nd quarter. Baird Financial Group Inc. now owns 7,939 shares of the financial services provider’s stock valued at $641,000 after purchasing an additional 1,666 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of Unum Group by 13.2% during the 2nd quarter. Brown Advisory Inc. now owns 6,445 shares of the financial services provider’s stock valued at $520,000 after purchasing an additional 753 shares during the last quarter. Finally, Cresset Asset Management LLC grew its holdings in shares of Unum Group by 6.1% during the 2nd quarter. Cresset Asset Management LLC now owns 6,715 shares of the financial services provider’s stock valued at $542,000 after purchasing an additional 386 shares during the last quarter. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Unum Group Stock Up 2.0%

Shares of Unum Group stock opened at $91.45 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.34 and a current ratio of 0.34. Unum Group has a 52-week low of $68.70 and a 52-week high of $94.55. The stock has a market capitalization of $14.48 billion, a price-to-earnings ratio of 21.32, a P/E/G ratio of 0.95 and a beta of 0.26. The company’s 50 day moving average price is $89.29 and its 200-day moving average price is $82.03.

Unum Group (NYSE:UNM – Get Free Report) last issued its earnings results on Tuesday, July 28th. The financial services provider reported $2.16 EPS for the quarter, hitting the consensus estimate of $2.16. Unum Group had a net margin of 5.26% and a return on equity of 12.60%. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the firm earned $1.92 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Unum Group has set its FY 2026 guidance at 8.600-8.900 EPS. Equities research analysts forecast that Unum Group will post 8.64 EPS for the current year.

Unum Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 24th were given a $0.505 dividend. The ex-dividend date was Friday, July 24th. This is a positive change from Unum Group’s previous quarterly dividend of $0.46. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.2%. Unum Group’s dividend payout ratio is presently 47.09%.

Unum Group declared that its Board of Directors has approved a stock repurchase plan on Wednesday, August 26th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages recently commented on UNM. Wells Fargo & Company lifted their target price on shares of Unum Group from $100.00 to $101.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods cut their price target on shares of Unum Group from $110.00 to $108.00 and set an “outperform” rating for the company in a research report on Thursday, July 30th. Wolfe Research reduced their price objective on Unum Group from $102.00 to $100.00 and set an “outperform” rating on the stock in a research note on Monday, July 6th. Atlantic Securities set a $88.00 price objective on Unum Group in a report on Wednesday, July 15th. Finally, Barclays boosted their target price on Unum Group from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Unum Group presently has an average rating of “Moderate Buy” and a consensus price target of $99.42.

Get Our Latest Report on UNM

Unum Group Profile

(Free Report)

Unum Group (NYSE: UNM) is a leading provider of employee benefits in the United States and selected international markets, specializing in disability, life, accident and critical illness insurance. Through both fully insured and self-funded arrangements, the company offers group coverage designed to protect income and mitigate financial hardship for employees and their families. Its portfolio includes short-term and long-term disability plans, group life and accidental death & dismemberment (AD&D) policies, as well as critical illness and hospital indemnity products.

In addition to its core product lines, Unum Group markets voluntary benefits under its Colonial Life brand, allowing employees to purchase supplemental insurance such as accident, cancer, and dental coverage directly through payroll deductions.

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