Ensign Peak Advisors Inc significantly expanded its stake in Unum Group, increasing its holdings by an impressive 762.9% during the second quarter of 2023. According to a recent filing with the Securities and Exchange Commission (SEC), the fund now owns 712,206 shares of the financial services provider, having acquired an additional 629,665 shares in this period. As of the end of the most recent quarter, Ensign Peak Advisors held 0.42% of Unum Group, valued at approximately $57.5 million.
Other institutional investors have also made notable adjustments to their portfolios involving Unum Group. For instance, Quintet Private Bank Europe S.A. acquired a new stake valued at about $28,000 during the second quarter. In addition, Vermillion & White Wealth Management Group LLC and Legacy Investment Solutions LLC each purchased positions worth $30,000. Atwood & Palmer Inc. doubled its holdings in the same period, now owning 400 shares after a purchase of 200 shares for a total value of $32,000. Overall, institutional investors and hedge funds control 86.57% of Unum Group’s stock.
Insider Transactions and Financial Performance
In related news, Christopher W. Pyne, Executive Vice President of Unum Group, sold 4,000 shares of the company on November 7, 2023, at an average price of $78.04, totaling $312,160. Following this transaction, Pyne retained 51,372 shares, valued at approximately $4.01 million, reflecting a 7.22% decrease in his position. The sale was disclosed in a filing with the SEC, which is publicly accessible.
Unum Group recently reported its quarterly earnings on November 3, 2023. The company announced earnings per share (EPS) of $2.09, falling short of the consensus estimate of $2.15 by $0.06. With a net margin of 11.77% and a return on equity of 13.44%, Unum Group generated $3.25 billion in revenue during the quarter, which was below analysts’ expectations of $3.31 billion. This revenue represents a 5.0% year-over-year increase, although it is worth noting that EPS was lower than the $2.13 reported for the same quarter last year. For the fiscal year 2025, Unum Group has set its EPS guidance, and analysts project an average EPS of $9.14 for the current fiscal year.
Dividend Announcement and Analyst Ratings
Unum Group declared a quarterly dividend of $0.46 per share, which was distributed on November 14, 2023. Shareholders recorded on October 24, 2023, received this payment, translating to an annualized dividend of $1.84 and a yield of 2.4%. The ex-dividend date was also set for October 24, 2023. Currently, Unum Group’s dividend payout ratio stands at 35.87%.
Recent analyst reports reflect a generally positive outlook for Unum Group. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and reduced their target price to $95.00, down from $100.00. Wolfe Research upgraded the stock to a “strong-buy” rating, while UBS Group assigned a target price of $87.00 with a “neutral” rating. Morgan Stanley adjusted its price target from $79.00 to $81.00, maintaining an “equal weight” rating. Overall, the consensus rating among analysts is “Moderate Buy” with an average target price of $94.67.
Unum Group, headquartered in the United States, is a leading provider of financial protection benefit solutions, operating primarily through its subsidiaries in the US, the UK, and Poland. The company specializes in various products, including group long-term and short-term disability, life insurance, and critical illness coverage.
For more detailed insights on the stock performance and institutional holdings of Unum Group, visit HoldingsChannel.com to access the latest filings and insider trading information.
