Unum Group’s (UNM) Overweight Rating Reaffirmed at Piper Sandler

Unum Group (NYSE:UNM)‘s stock had its “overweight” rating reissued by equities research analysts at Piper Sandler in a research note issued to investors on Friday, Benzinga reports. They currently have a $66.00 price target on the financial services provider’s stock, up from their prior price target of $64.00. Piper Sandler’s price target indicates a potential upside of 12.09% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on UNM. Evercore ISI upped their target price on Unum Group from $56.00 to $58.00 and gave the stock an “in-line” rating in a report on Wednesday, June 26th. Barclays began coverage on shares of Unum Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $73.00 target price on the stock. Truist Financial upped their price target on shares of Unum Group from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company lifted their price target on shares of Unum Group from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Finally, Citigroup increased their price objective on Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.80.

Unum Group Price Performance

Shares of UNM stock traded up $0.76 on Friday, reaching $58.88. The company had a trading volume of 197,517 shares, compared to its average volume of 1,242,014. The stock has a market capitalization of $10.94 billion, a PE ratio of 8.75, a price-to-earnings-growth ratio of 0.85 and a beta of 0.77. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.33. The business’s 50-day moving average is $54.80 and its 200 day moving average is $52.85. Unum Group has a one year low of $41.75 and a one year high of $59.01.

Unum Group (NYSE:UNM) last issued its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $2.16 EPS for the quarter, beating the consensus estimate of $2.02 by $0.14. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.23 billion. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.06 EPS. Equities research analysts forecast that Unum Group will post 8.48 EPS for the current fiscal year.

Unum Group announced that its board has approved a stock buyback plan on Tuesday, July 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 10% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Unum Group

In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total transaction of $541,100.00. Following the completion of the sale, the executive vice president now owns 64,821 shares in the company, valued at approximately $3,507,464.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Richard P. Mckenney sold 67,795 shares of Unum Group stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $54.98, for a total transaction of $3,727,369.10. Following the transaction, the chief executive officer now owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total value of $541,100.00. Following the transaction, the executive vice president now owns 64,821 shares in the company, valued at $3,507,464.31. The disclosure for this sale can be found here. 0.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UNM. Quadrature Capital Ltd purchased a new position in Unum Group in the 1st quarter valued at approximately $1,130,000. Boone Capital Management LLC grew its position in shares of Unum Group by 10.8% in the fourth quarter. Boone Capital Management LLC now owns 961,661 shares of the financial services provider’s stock valued at $43,486,000 after purchasing an additional 94,096 shares in the last quarter. Allianz Asset Management GmbH raised its stake in shares of Unum Group by 3.6% during the 4th quarter. Allianz Asset Management GmbH now owns 950,914 shares of the financial services provider’s stock valued at $43,000,000 after purchasing an additional 33,454 shares during the period. First Trust Advisors LP lifted its holdings in Unum Group by 43.0% during the 4th quarter. First Trust Advisors LP now owns 973,480 shares of the financial services provider’s stock worth $44,021,000 after purchasing an additional 292,917 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in Unum Group by 80.7% in the 1st quarter. Tidal Investments LLC now owns 64,008 shares of the financial services provider’s stock worth $3,436,000 after purchasing an additional 28,580 shares during the period. 86.57% of the stock is currently owned by hedge funds and other 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.