Unum Group (NYSE:UNM) Reaches New 1-Year High on Analyst Upgrade

Unum Group (NYSE:UNMGet Free Report)’s share price reached a new 52-week high on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $56.00 to $58.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Unum Group traded as high as $54.38 and last traded at $54.31, with a volume of 61095 shares changing hands. The stock had previously closed at $53.87.

UNM has been the subject of several other research reports. The Goldman Sachs Group increased their target price on shares of Unum Group from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, January 31st. StockNews.com upgraded shares of Unum Group from a “hold” rating to a “buy” rating in a report on Wednesday, January 31st. Finally, Wells Fargo & Company upped their price target on shares of Unum Group from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.25.

Get Our Latest Analysis on Unum Group

Insider Activity at Unum Group

In related news, CEO Richard P. Mckenney sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $49.15, for a total value of $2,457,500.00. Following the completion of the transaction, the chief executive officer now owns 1,076,753 shares in the company, valued at approximately $52,922,409.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Unum Group news, CEO Richard P. Mckenney sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $49.15, for a total transaction of $2,457,500.00. Following the completion of the transaction, the chief executive officer now owns 1,076,753 shares in the company, valued at approximately $52,922,409.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Steven Andrew Zabel sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $51.06, for a total transaction of $510,600.00. Following the transaction, the chief financial officer now owns 122,246 shares of the company’s stock, valued at approximately $6,241,880.76. The disclosure for this sale can be found here. Insiders sold a total of 81,000 shares of company stock worth $4,018,100 in the last quarter. 0.94% of the stock is owned by insiders.

Institutional Trading of Unum Group

Several hedge funds have recently modified their holdings of UNM. Silver Oak Securities Incorporated acquired a new stake in Unum Group in the 3rd quarter valued at $25,000. Resurgent Financial Advisors LLC acquired a new stake in Unum Group in the 2nd quarter valued at $25,000. Contravisory Investment Management Inc. acquired a new stake in Unum Group in the 4th quarter valued at $25,000. Bangor Savings Bank grew its position in Unum Group by 100.0% in the 3rd quarter. Bangor Savings Bank now owns 664 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 332 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in Unum Group in the 3rd quarter valued at $36,000. Institutional investors own 86.57% of the company’s stock.

Unum Group Trading Up 0.3 %

The firm’s 50-day moving average is $50.10 and its 200-day moving average is $47.42. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.36. The firm has a market cap of $10.42 billion, a price-to-earnings ratio of 8.36, a P/E/G ratio of 0.79 and a beta of 0.87.

Unum Group (NYSE:UNMGet Free Report) last posted its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.86 by ($0.07). The business had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.14 billion. Unum Group had a net margin of 10.36% and a return on equity of 16.03%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.43 EPS. As a group, sell-side analysts anticipate that Unum Group will post 8.18 EPS for the current fiscal year.

Unum Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Friday, January 26th were paid a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Thursday, January 25th. Unum Group’s payout ratio is 22.50%.

About Unum Group

(Get Free Report)

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.

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