Unum Group (NYSE:UNM) Reaches New 12-Month High at $59.13

Unum Group (NYSE:UNM) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $59.13 and last traded at $59.08, with a volume of 466071 shares. The stock had previously closed at $58.65.

Wall Street Analyst Weigh In

UNM has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price target on shares of Unum Group from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Citigroup lifted their target price on shares of Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Evercore ISI increased their price target on Unum Group from $56.00 to $58.00 and gave the company an “in-line” rating in a report on Wednesday, June 26th. JPMorgan Chase & Co. boosted their price objective on Unum Group from $64.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Barclays began coverage on Unum Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $73.00 target price for the company. Three research 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.80.

Unum Group Trading Up 1.3 %

The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.33. The business has a 50 day simple moving average of $54.90 and a two-hundred day simple moving average of $52.93. The stock has a market cap of $11.04 billion, a price-to-earnings ratio of 8.71, a price-to-earnings-growth ratio of 0.86 and a beta of 0.77.

Unum Group (NYSE:UNM) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.14. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the previous year, the firm earned $2.06 earnings per share. The business’s revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts anticipate that Unum Group will post 8.48 EPS for the current year.

Unum Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, July 26th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date was Friday, July 26th. This is a positive change from Unum Group’s previous quarterly dividend of $0.37. Unum Group’s dividend payout ratio is 24.96%.

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

Insider Activity at Unum Group

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

Institutional Trading of Unum Group

Several hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. lifted its stake in Unum Group by 5.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 36,427 shares of the financial services provider’s stock valued at $1,647,000 after buying an additional 2,023 shares during the last quarter. Hsbc Holdings PLC lifted its position in Unum Group by 337.0% in the 4th quarter. Hsbc Holdings PLC now owns 189,308 shares of the financial services provider’s stock valued at $8,570,000 after purchasing an additional 145,993 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in Unum Group by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 89,955 shares of the financial services provider’s stock valued at $4,068,000 after purchasing an additional 865 shares during the period. Bank of Nova Scotia grew its position in Unum Group by 2.8% in the 4th quarter. Bank of Nova Scotia now owns 9,193 shares of the financial services provider’s stock worth $416,000 after purchasing an additional 249 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Unum Group by 362.3% in the fourth quarter. KBC Group NV now owns 8,803 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 6,899 shares during the period. Institutional investors own 86.57% of the company’s stock.

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.