Unum Group (NYSE:UNM) Price Target Raised to $87.00

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

UNM has been the topic of a number of other reports. Raymond James raised Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 target price on the stock in a research report on Wednesday, March 5th. BMO Capital Markets lifted their price objective on shares of Unum Group from $95.00 to $102.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Wells Fargo & Company upped their target price 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. Piper Sandler lifted their price target on Unum Group from $82.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley increased their price objective on Unum Group from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Unum Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.86.

Unum Group Stock Performance

NYSE:UNM opened at $82.93 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 0.29 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 company has a fifty day moving average of $78.20 and a 200-day moving average of $71.90. The firm has a market capitalization of $14.66 billion, a P/E ratio of 8.76, a P/E/G ratio of 1.14 and a beta of 0.74.

Unum Group (NYSE:UNM) last posted its quarterly 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%. As a group, sell-side analysts anticipate that Unum Group will post 9.14 EPS for the current year.

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

Unum Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 24th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Friday, January 24th. Unum Group’s dividend payout ratio is 17.74%.

Insider Transactions at Unum Group

In other news, CEO Richard P. Mckenney sold 50,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the completion of the transaction, the chief executive officer now owns 980,637 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lisa G. Iglesias sold 7,000 shares of the business’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 completion of the sale, the executive vice president now owns 31,284 shares in the company, valued at $2,588,751. This represents 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 company insiders.

Hedge Funds Weigh In On Unum Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bessemer Group Inc. lifted its stake in shares of Unum Group by 2.2% during the 4th quarter. Bessemer Group Inc. now owns 6,536 shares of the financial services provider’s stock valued at $478,000 after buying an additional 143 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its position in shares of Unum Group by 0.8% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 18,211 shares of the financial services provider’s stock worth $1,330,000 after acquiring an additional 147 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Unum Group by 26.4% in the fourth quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 160 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Unum Group by 28.8% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 800 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 179 shares in the last quarter. Finally, QRG Capital Management Inc. raised its stake in shares of Unum Group by 1.4% during the 4th quarter. QRG Capital Management Inc. now owns 13,336 shares of the financial services provider’s stock valued at $974,000 after purchasing an additional 189 shares during the period. Institutional investors 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.