Unum Group (NYSE:UNM) Given New $85.00 Price Target at Barclays

Unum Group (NYSE:UNM) had its price target increased by Barclays from $76.00 to $85.00 in a research report released on Monday morning,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Other analysts have also recently issued reports about the company. Morgan Stanley raised their price objective on Unum Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Evercore ISI raised Unum Group from an “in-line” rating to an “outperform” rating and raised their price target for the company from $67.00 to $84.00 in a report on Thursday, November 14th. UBS Group upgraded shares of Unum Group to a “hold” rating in a report on Wednesday, October 9th. Truist Financial raised their target price on shares of Unum Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Piper Sandler upped their price target on shares of Unum Group from $74.00 to $82.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $73.09.

Unum Group Price Performance

Shares of UNM opened at $73.20 on Monday. The company has a market cap of $13.37 billion, a price-to-earnings ratio of 7.92, a PEG ratio of 1.06 and a beta of 0.81. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The company’s fifty day simple moving average is $72.27 and its 200 day simple moving average is $61.56. Unum Group has a 1-year low of $44.83 and a 1-year high of $77.63.

Unum Group (NYSE:UNM) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.03. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the business earned $1.94 EPS. Unum Group’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, research analysts forecast that Unum Group will post 8.54 earnings per share for the current fiscal year.

Unum Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 25th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.30%. Unum Group’s dividend payout ratio (DPR) is currently 18.18%.

Insider Buying and Selling at Unum Group

In other news, CEO Richard P. Mckenney sold 58,865 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $75.39, for a total value of $4,437,832.35. Following the completion of the transaction, the chief executive officer now owns 1,007,003 shares of the company’s stock, valued at $75,917,956.17. This represents a 5.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing 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, November 27th. The stock was sold at an average price of $76.92, for a total transaction of $769,200.00. Following the sale, the executive vice president now owns 54,827 shares in the company, valued at approximately $4,217,292.84. This represents a 15.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 107,914 shares of company stock worth $7,998,745 over the last 90 days. Insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Unum Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new position in shares of Unum Group during the third quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Unum Group during the 3rd quarter worth $37,000. V Square Quantitative Management LLC lifted its holdings in Unum Group by 38.2% during the 3rd quarter. V Square Quantitative Management LLC now owns 702 shares of the financial services provider’s stock worth $42,000 after buying an additional 194 shares during the period. Versant Capital Management Inc grew its position in shares of Unum Group by 26.4% in the 4th quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock valued at $56,000 after buying an additional 160 shares during the last quarter. Finally, William B. Walkup & Associates Inc. acquired a new stake in shares of Unum Group in the second quarter valued at about $44,000. 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.