Unum Group (NYSE:UNM) Upgraded at UBS Group

UBS Group upgraded shares of Unum Group (NYSE:UNM) to a hold rating in a research note published on Wednesday morning, Zacks.com reports.

UNM has been the topic of several other research reports. JPMorgan Chase & Co. cut their price target on shares of Unum Group from $65.00 to $63.00 and set an overweight rating on the stock in a report on Thursday, October 3rd. Citigroup lifted their price target on shares of Unum Group from $62.00 to $69.00 and gave the company a buy rating in a research note on Tuesday, July 23rd. Piper Sandler reissued an overweight rating and issued a $66.00 price target (up previously from $64.00) on shares of Unum Group in a research note on Friday, September 27th. Jefferies Financial Group lifted their price target on shares of Unum Group from $63.00 to $64.00 and gave the company a buy rating in a research note on Wednesday, July 10th. Finally, Wells Fargo & Company raised their price objective on Unum Group from $69.00 to $71.00 and gave the company an overweight rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $63.64.

Unum Group Trading Up 1.8 %

UNM stock opened at $62.73 on Wednesday. The firm has a fifty day moving average price of $56.15 and a 200 day moving average price of $53.50. Unum Group has a fifty-two week low of $41.75 and a fifty-two week high of $63.25. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market cap of $11.65 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 0.91 and a beta of 0.77.

Unum Group (NYSE:UNM) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.14. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.23 billion. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.06 earnings per share. Sell-side analysts anticipate that Unum Group will post 8.47 earnings per share for the current fiscal year.

Unum Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.68%. Unum Group’s dividend payout ratio (DPR) is presently 24.71%.

Unum Group declared that its Board of Directors has approved a stock repurchase program on Tuesday, July 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 10% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Unum Group news, CEO Richard P. Mckenney sold 67,795 shares of Unum Group stock in a transaction 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 sale, the chief executive officer now owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group stock in a transaction 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 transaction, the executive vice president now directly owns 64,821 shares in the company, valued at $3,507,464.31. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard P. Mckenney sold 67,795 shares of Unum Group stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $54.98, for a total value of $3,727,369.10. Following the completion of the transaction, the chief executive officer now owns 1,065,868 shares in the company, valued at $58,601,422.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Unum Group

Hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc grew its holdings in shares of Unum Group by 361.5% in the 2nd quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 394 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Unum Group during the second quarter valued at $26,000. Salomon & Ludwin LLC purchased a new position in shares of Unum Group during the first quarter valued at $28,000. 1620 Investment Advisors Inc. purchased a new position in shares of Unum Group during the second quarter valued at $29,000. Finally, MCF Advisors LLC purchased a new position in shares of Unum Group during the first quarter valued at $35,000. 86.57% of the stock is currently owned by institutional investors and hedge funds.

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.