Unum Group (NYSE:UNM) Price Target Raised to $63.00

Unum Group (NYSE:UNM) had its target price boosted by Bank of America from $54.00 to $63.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other analysts also recently weighed in on UNM. Citigroup increased their price target 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. Piper Sandler reissued an overweight rating and set a $66.00 target price (up from $64.00) on shares of Unum Group in a research report on Friday, September 27th. Evercore ISI upped 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. Wells Fargo & Company lifted their price objective on Unum Group from $69.00 to $71.00 and gave the stock an overweight rating in a report on Thursday. Finally, Barclays cut their target price on Unum Group from $73.00 to $72.00 and set an overweight rating for the company in a research note on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Unum Group presently has a consensus rating of Moderate Buy and a consensus target price of $63.64.

Unum Group Trading Up 1.8 %

Unum Group stock opened at $62.73 on Thursday. Unum Group has a 52 week low of $41.75 and a 52 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 capitalization of $11.65 billion, a PE ratio of 9.23, a PEG ratio of 0.91 and a beta of 0.77. The business’s 50-day simple moving average is $56.15 and its 200-day simple moving average is $53.50.

Unum Group (NYSE:UNM) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $2.16 EPS for the quarter, topping the consensus estimate of $2.02 by $0.14. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the previous year, the business posted $2.06 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities research analysts forecast that Unum Group will post 8.49 earnings per share for the current year.

Unum Group Dividend Announcement

The company 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 annualized dividend and a yield of 2.68%. Unum Group’s dividend payout ratio is 24.71%.

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

Insider Buying and Selling

In other Unum Group 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 completion of the transaction, the executive vice president now owns 64,821 shares in the company, valued at approximately $3,507,464.31. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Unum Group news, CEO Richard P. Mckenney sold 67,795 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $54.98, for a total value of $3,727,369.10. Following the completion of the sale, the chief executive officer now owns 1,065,868 shares in the company, valued at approximately $58,601,422.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $54.11, for a total transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of UNM. Quadrature Capital Ltd bought a new position in Unum Group in the 1st quarter valued at $1,130,000. Boone Capital Management LLC lifted its stake in shares of Unum Group by 10.8% during 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 acquiring an additional 94,096 shares during the period. Tidal Investments LLC boosted its holdings in Unum Group by 80.7% in the first quarter. Tidal Investments LLC now owns 64,008 shares of the financial services provider’s stock valued at $3,436,000 after acquiring an additional 28,580 shares during the last quarter. Wedge Capital Management L L P NC increased its position in Unum Group by 8.0% in the second quarter. Wedge Capital Management L L P NC now owns 872,808 shares of the financial services provider’s stock worth $44,609,000 after purchasing an additional 64,661 shares during the period. Finally, Nordea Investment Management AB raised its holdings in Unum Group by 51.7% during the 1st quarter. Nordea Investment Management AB now owns 2,961,539 shares of the financial services provider’s stock worth $158,590,000 after purchasing an additional 1,008,776 shares during the last quarter. 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.