Unum Group (NYSE:UNM) Price Target Raised to $92.00

Unum Group (NYSE:UNM) had its price objective lifted by Piper Sandler from $87.00 to $92.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

A number of other equities research analysts have also issued reports on UNM. 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 report on Tuesday, December 10th. Morgan Stanley upped their price objective on shares of Unum Group from $80.00 to $84.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Wells Fargo & Company raised their target price on shares of Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. upped their price target on Unum Group from $81.00 to $87.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, BMO Capital Markets lifted their price objective on Unum Group from $95.00 to $102.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.86.

Unum Group Trading Down 10.2 %

Shares of Unum Group stock 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 twelve month low of $48.38 and a twelve month high of $84.48. The firm has a market capitalization of $12.58 billion, a PE ratio of 7.51, a P/E/G ratio of 1.14 and a beta of 0.74. The firm’s 50-day moving average price is $78.19 and its 200 day moving average price is $72.06.

Unum Group (NYSE:UNM) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. On average, sell-side analysts predict that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group announced that its board has initiated a share repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Unum Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 24th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.36%. The ex-dividend date was Friday, January 24th. Unum Group’s dividend payout ratio (DPR) is presently 17.74%.

Insider Transactions at Unum Group

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Barrett & Company Inc. lifted its holdings in Unum Group by 300.0% during the 4th quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock worth $29,000 after buying an additional 297 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Unum Group in the fourth quarter valued at $38,000. Millstone Evans Group LLC purchased a new position in Unum Group in the fourth quarter valued at $45,000. Versant Capital Management Inc grew its stake in Unum Group by 26.4% during the 4th quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 160 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in 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 worth $58,000 after purchasing an additional 179 shares in the last quarter. Institutional investors and hedge funds 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.