Unum Group (NYSE:UNM) Price Target Raised to $87.00 at JPMorgan Chase & Co.

Unum Group (NYSE:UNM) had its price target lifted by JPMorgan Chase & Co. from $81.00 to $87.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other research analysts have also issued reports on the stock. Wells Fargo & Company raised their price target on shares of Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. StockNews.com lowered Unum Group from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Piper Sandler raised their price target on shares of Unum Group from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Jefferies Financial Group upped their target price on shares of Unum Group from $91.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Barclays increased their price target on Unum Group from $76.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.86.

Unum Group Stock Performance

NYSE UNM opened at $71.14 on Wednesday. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. Unum Group has a 1 year low of $48.38 and a 1 year high of $84.48. The firm has a market capitalization of $12.58 billion, a price-to-earnings ratio of 7.51, a P/E/G ratio of 1.14 and a beta of 0.74. The firm’s 50 day simple moving average is $78.19 and its 200 day simple moving average is $72.06.

Unum Group (NYSE:UNM) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. As a group, research analysts expect that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group declared that its Board of Directors has authorized a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Unum Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Friday, January 24th. Unum Group’s payout ratio is currently 17.74%.

Insider Activity at Unum Group

In related news, CEO Richard P. Mckenney sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the sale, the chief executive officer now owns 980,637 shares of the company’s stock, valued at approximately $80,402,427.63. This represents a 4.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Lisa G. Iglesias sold 7,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $82.75, for a total transaction of $579,250.00. Following the completion of the transaction, the executive vice president now directly owns 31,284 shares of the company’s stock, valued at approximately $2,588,751. The trade was a 18.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by corporate insiders.

Institutional Trading of Unum Group

Several institutional investors and hedge funds have recently modified their holdings of UNM. Bessemer Group Inc. increased its position in shares of Unum Group by 2.2% in the fourth quarter. Bessemer Group Inc. now owns 6,536 shares of the financial services provider’s stock worth $478,000 after purchasing an additional 143 shares during the last quarter. Kovitz Investment Group Partners LLC grew its stake in Unum Group by 0.8% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 18,211 shares of the financial services provider’s stock worth $1,330,000 after buying an additional 147 shares in the last quarter. Versant Capital Management Inc increased its holdings 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 worth $56,000 after buying an additional 160 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Unum Group by 28.8% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 800 shares of the financial services provider’s stock valued at $58,000 after buying an additional 179 shares in the last quarter. Finally, QRG Capital Management Inc. grew its position in Unum Group by 1.4% in the fourth quarter. QRG Capital Management Inc. now owns 13,336 shares of the financial services provider’s stock worth $974,000 after acquiring an additional 189 shares in the last quarter. Hedge funds and other 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.