Unum Group (NYSE:UNM) Rating Reiterated by Piper Sandler

Unum Group (NYSE:UNM)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Piper Sandler in a research note issued on Friday, Benzinga reports. They presently have a $66.00 target price on the financial services provider’s stock, up from their prior target price of $64.00. Piper Sandler’s target price would indicate a potential upside of 12.53% from the company’s previous close.

A number of other equities analysts have also weighed in on UNM. Jefferies Financial Group boosted their price target on shares of 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. boosted their price target on shares of Unum Group from $64.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Truist Financial boosted their price target on shares of Unum Group from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Barclays began coverage on shares of Unum Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $73.00 price target on the stock. Finally, Evercore ISI boosted their price target on shares of Unum Group from $56.00 to $58.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Unum Group has a consensus rating of “Moderate Buy” and an average price target of $63.80.

Unum Group Stock Up 0.9 %

UNM stock opened at $58.65 on Friday. The stock has a market capitalization of $10.90 billion, a P/E ratio of 8.71, a P/E/G ratio of 0.85 and a beta of 0.77. The firm has a 50-day simple moving average of $54.90 and a 200-day simple moving average of $52.91. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.33. Unum Group has a 52 week low of $41.75 and a 52 week high of $59.01.

Unum Group (NYSE:UNM) last released its earnings results on Tuesday, July 30th. The financial services provider reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.14. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.06 earnings per share. Equities analysts forecast that Unum Group will post 8.48 earnings per share for the current fiscal year.

Unum Group announced that its Board of Directors has approved a share buyback plan on Tuesday, July 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Unum Group

In other news, EVP Timothy Gerald Arnold sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total value of $541,100.00. Following the completion of the transaction, the executive vice president now owns 64,821 shares in the company, valued at approximately $3,507,464.31. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Timothy Gerald Arnold sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total value of $541,100.00. Following the completion of the transaction, the executive vice president now owns 64,821 shares in the company, valued at approximately $3,507,464.31. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Richard P. Mckenney sold 67,795 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 1,065,868 shares of the company’s stock, valued at approximately $58,601,422.64. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

Institutional Trading of Unum Group

A number of large investors have recently bought and sold shares of UNM. GAMMA Investing LLC lifted its stake in shares of Unum Group by 7.1% in the 1st quarter. GAMMA Investing LLC now owns 3,071 shares of the financial services provider’s stock worth $165,000 after acquiring an additional 204 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Unum Group by 2.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 10,126 shares of the financial services provider’s stock worth $518,000 after acquiring an additional 217 shares during the period. QRG Capital Management Inc. lifted its stake in shares of Unum Group by 1.8% in the 2nd quarter. QRG Capital Management Inc. now owns 12,786 shares of the financial services provider’s stock worth $654,000 after acquiring an additional 226 shares during the period. FinTrust Capital Advisors LLC lifted its stake in shares of Unum Group by 20.4% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,457 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 247 shares during the period. Finally, Bank of Nova Scotia increased its holdings in shares of Unum Group by 2.8% in the 4th quarter. Bank of Nova Scotia now owns 9,193 shares of the financial services provider’s stock valued at $416,000 after purchasing an additional 249 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.