Unum Group (NYSE:UNM) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Unum Group (NYSE:UNM) had its price target increased by research analysts at Morgan Stanley from $83.00 to $85.00 in a report released on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target indicates a potential upside of 7.59% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. Keefe, Bruyette & Woods cut their price objective on Unum Group from $103.00 to $102.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. increased their price objective on Unum Group from $87.00 to $96.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. Piper Sandler boosted their target price on shares of Unum Group from $88.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, July 3rd. UBS Group set a $89.00 target price on shares of Unum Group and gave the company a “neutral” rating in a research note on Friday, May 23rd. Finally, Barclays set a $96.00 target price on shares of Unum Group and gave the company an “overweight” rating in a research note on Monday, July 7th. 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $90.14.

Unum Group Stock Performance

Shares of NYSE UNM opened at $79.00 on Monday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.31. The firm’s 50-day moving average price is $80.34 and its two-hundred day moving average price is $78.02. Unum Group has a 52-week low of $51.80 and a 52-week high of $84.48. The stock has a market capitalization of $13.77 billion, a P/E ratio of 9.31, a P/E/G ratio of 1.27 and a beta of 0.41.

Unum Group (NYSE:UNM) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $2.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.15). The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.34 billion. Unum Group had a return on equity of 14.17% and a net margin of 12.31%. The business’s revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.12 EPS. As a group, sell-side analysts forecast that Unum Group will post 9.14 earnings per share for the current year.

Insider Buying and Selling at Unum Group

In other news, EVP Elizabeth Claire Ahmed sold 10,000 shares of Unum Group stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $80.00, for a total transaction of $800,000.00. Following the completion of the sale, the executive vice president owned 51,170 shares of the company’s stock, valued at approximately $4,093,600. This trade represents a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quintet Private Bank Europe S.A. bought a new position in Unum Group in the second quarter valued at about $28,000. Vermillion & White Wealth Management Group LLC bought a new position in Unum Group in the first quarter valued at about $30,000. Atwood & Palmer Inc. grew its holdings in shares of Unum Group by 100.0% during the second quarter. Atwood & Palmer Inc. now owns 400 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 200 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Unum Group in the first quarter valued at approximately $35,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Unum Group by 196.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 478 shares of the financial services provider’s stock valued at $39,000 after buying an additional 317 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.