JPMorgan Chase & Co. Increases Unum Group (NYSE:UNM) Price Target to $64.00

Unum Group (NYSE:UNM) had its price objective lifted by equities research analysts at JPMorgan Chase & Co. from $58.00 to $64.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 26.43% from the stock’s current price.

A number of other brokerages have also recently issued reports on UNM. Evercore ISI boosted their price objective on Unum Group from $56.00 to $58.00 and gave the stock an “in-line” rating in a report on Wednesday, June 26th. Jefferies Financial Group boosted their price objective on Unum Group from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Wells Fargo & Company boosted their price objective on Unum Group from $64.00 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Morgan Stanley boosted their price objective on Unum Group from $50.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, Truist Financial boosted their price objective on Unum Group from $57.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Unum Group currently has an average rating of “Moderate Buy” and an average target price of $58.56.

Unum Group Trading Down 1.7 %

Unum Group stock opened at $50.62 on Tuesday. Unum Group has a 52 week low of $41.75 and a 52 week high of $54.57. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market capitalization of $9.59 billion, a P/E ratio of 7.52, a PEG ratio of 1.08 and a beta of 0.81. The stock has a 50-day simple moving average of $51.61 and a 200 day simple moving average of $49.86.

Unum Group (NYSE:UNM) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.15. Unum Group had a return on equity of 16.02% and a net margin of 10.52%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter last year, the company posted $1.87 earnings per share. Unum Group’s quarterly revenue was up 5.4% on a year-over-year basis. Analysts expect that Unum Group will post 8.25 earnings per share for the current year.

Insider Activity

In other news, Director Timothy F. Keaney sold 8,000 shares of Unum Group stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $52.61, for a total value of $420,880.00. Following the completion of the sale, the director now directly owns 37,505 shares in the company, valued at $1,973,138.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Unum Group news, EVP Christopher W. Pyne sold 4,500 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $52.47, for a total transaction of $236,115.00. Following the completion of the sale, the executive vice president now directly owns 56,262 shares in the company, valued at $2,952,067.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy F. Keaney sold 8,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $52.61, for a total value of $420,880.00. Following the completion of the transaction, the director now owns 37,505 shares of the company’s stock, valued at $1,973,138.05. The disclosure for this sale can be found here. 0.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Silver Oak Securities Incorporated bought a new position in shares of Unum Group in the 3rd quarter valued at $25,000. Salomon & Ludwin LLC bought a new position in shares of Unum Group in the 1st quarter valued at $28,000. Contravisory Investment Management Inc. bought a new position in shares of Unum Group in the 4th quarter valued at $25,000. MCF Advisors LLC bought a new position in shares of Unum Group in the 1st quarter valued at $35,000. Finally, Neo Ivy Capital Management bought a new position in shares of Unum Group in the 3rd quarter valued at $36,000. 86.57% of the stock is currently owned by institutional investors.

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.