Brokerages Set Unum Group (NYSE:UNM) Price Target at $61.44

Shares of Unum Group (NYSE:UNM) have earned a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $61.44.

Several equities research analysts recently issued reports on the stock. Piper Sandler began coverage on shares of Unum Group in a research report on Thursday, July 11th. They set an “overweight” rating and a $57.00 price objective for the company. Morgan Stanley lifted their price target on shares of Unum Group from $50.00 to $52.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Jefferies Financial Group increased their price objective on Unum Group from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. lifted their target price on Unum Group from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Evercore ISI raised their price objective on Unum Group from $56.00 to $58.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 26th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc raised its position in Unum Group by 361.5% in the 2nd quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 394 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Unum Group in the second quarter valued at approximately $26,000. Salomon & Ludwin LLC purchased a new position in Unum Group in the first quarter worth approximately $28,000. 1620 Investment Advisors Inc. acquired a new position in Unum Group during the 2nd quarter worth approximately $29,000. Finally, MCF Advisors LLC purchased a new stake in shares of Unum Group in the 1st quarter valued at approximately $35,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Unum Group Price Performance

UNM traded up $0.54 on Friday, reaching $53.63. 781,286 shares of the company’s stock were exchanged, compared to its average volume of 1,266,470. Unum Group has a twelve month low of $41.75 and a twelve month high of $58.17. The stock has a market cap of $9.96 billion, a PE ratio of 7.97, a P/E/G ratio of 0.78 and a beta of 0.81. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.28 and a quick ratio of 0.28. The stock’s fifty day moving average price is $52.00 and its 200-day moving average price is $51.28.

Unum Group (NYSE:UNM) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.14. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same period in the prior year, the business earned $2.06 earnings per share. The business’s revenue was up 3.9% compared to the same quarter last year. Sell-side analysts expect that Unum Group will post 8.52 EPS for the current year.

Unum Group announced that its board has initiated a share buyback 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 purchase up to 10% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Unum Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, July 26th will be paid a $0.42 dividend. This is a positive change from Unum Group’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 3.13%. Unum Group’s dividend payout ratio (DPR) is presently 24.96%.

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.