Barclays Issues Positive Forecast for Unum Group (NYSE:UNM) Stock Price

Unum Group (NYSE:UNM) had its price target raised by equities research analysts at Barclays from $72.00 to $74.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price points to a potential upside of 15.28% from the stock’s current price.

UNM has been the topic of a number of 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. 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 report on Friday, September 27th. Evercore ISI raised their price target on shares of Unum Group from $59.00 to $66.00 and gave the stock an “in-line” rating in a report on Wednesday. Truist Financial raised their price target on shares of Unum Group from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group raised their price target on shares of Unum Group from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.64.

Unum Group Trading Up 4.2 %

Shares of UNM stock traded up $2.56 on Wednesday, hitting $64.19. 1,702,973 shares of the company’s stock traded hands, compared to its average volume of 1,233,588. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.28 and a current ratio of 0.28. Unum Group has a one year low of $41.75 and a one year high of $64.91. The company’s fifty day simple moving average is $58.40 and its 200 day simple moving average is $54.37. The stock has a market capitalization of $12.16 billion, a price-to-earnings ratio of 9.55, a P/E/G ratio of 0.91 and a beta of 0.77.

Unum Group (NYSE:UNM) last released its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, beating the consensus estimate of $2.09 by $0.04. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.26 billion. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.94 EPS. Equities analysts forecast that Unum Group will post 8.49 EPS for the current year.

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

Insider Buying and Selling

In related news, CEO Richard P. Mckenney sold 67,795 shares of the business’s 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 of the company’s stock, valued at $58,601,422.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Timothy Gerald Arnold sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total transaction of $541,100.00. Following the completion of the sale, the executive vice president now owns 64,821 shares of the company’s stock, valued at $3,507,464.31. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard P. Mckenney sold 67,795 shares of the firm’s stock in a transaction that occurred on 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 directly owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Unum Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC increased its position in shares of Unum Group by 38.2% during the third quarter. V Square Quantitative Management LLC now owns 702 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 194 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in Unum Group by 2.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 10,126 shares of the financial services provider’s stock valued at $518,000 after purchasing an additional 217 shares during the period. Global Retirement Partners LLC lifted its position in Unum Group by 2.8% during the third quarter. Global Retirement Partners LLC now owns 8,292 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 224 shares during the period. QRG Capital Management Inc. lifted its position in Unum Group by 1.8% during the second quarter. QRG Capital Management Inc. now owns 12,786 shares of the financial services provider’s stock valued at $654,000 after purchasing an additional 226 shares during the period. Finally, FinTrust Capital Advisors LLC lifted its position in Unum Group by 20.4% during the first quarter. FinTrust Capital Advisors LLC now owns 1,457 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 247 shares during the period. Institutional investors own 86.57% of the company’s stock.

About Unum Group

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.