Cornerstone Wealth Management LLC Raises Holdings in Unum Group (UNM)

Cornerstone Wealth Management LLC grew its stake in Unum Group (NYSE:UNM) by 49.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,786 shares of the financial services provider’s stock after purchasing an additional 10,870 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Unum Group were worth $627,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of UNM. Bank of Montreal Can bought a new position in Unum Group in the 2nd quarter worth $152,694,000. Donald Smith & CO. Inc. raised its holdings in Unum Group by 158.2% in the 2nd quarter. Donald Smith & CO. Inc. now owns 5,328,092 shares of the financial services provider’s stock worth $197,086,000 after purchasing an additional 3,264,382 shares in the last quarter. Nuance Investments LLC raised its holdings in Unum Group by 224.9% in the 2nd quarter. Nuance Investments LLC now owns 1,802,312 shares of the financial services provider’s stock worth $66,668,000 after purchasing an additional 1,247,604 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Unum Group by 1,402.8% in the 2nd quarter. Victory Capital Management Inc. now owns 1,032,795 shares of the financial services provider’s stock worth $38,203,000 after purchasing an additional 964,068 shares in the last quarter. Finally, Hexavest Inc. bought a new position in Unum Group in the 2nd quarter worth $32,895,000. Institutional investors and hedge funds own 90.92% of the company’s stock.

A number of analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Unum Group from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Friday, October 12th. Barclays reduced their target price on shares of Unum Group from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, July 9th. Finally, TheStreet downgraded shares of Unum Group from a “b-” rating to a “c+” rating in a research report on Wednesday, October 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $53.08.

NYSE:UNM opened at $37.17 on Friday. The stock has a market capitalization of $8.13 billion, a PE ratio of 8.66, a price-to-earnings-growth ratio of 0.79 and a beta of 1.32. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.35. Unum Group has a 1-year low of $33.27 and a 1-year high of $58.73.

Unum Group (NYSE:UNM) last released its earnings results on Wednesday, October 24th. The financial services provider reported $1.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.08. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. Unum Group had a net margin of 4.68% and a return on equity of 12.06%. On average, analysts forecast that Unum Group will post 5.22 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Monday, October 29th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Friday, October 26th. Unum Group’s dividend payout ratio (DPR) is 24.24%.

About Unum Group

Unum Group, together with its subsidiaries, provides financial protection benefit solutions in the United States, the United Kingdom, and internationally. It operates through Unum US, Unum UK, Colonial Life, and Closed Block 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.

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Institutional Ownership by Quarter for Unum Group (NYSE:UNM)

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