Unum Group (NYSE:UNM) Receives $63.64 Average Target Price from Brokerages

Unum Group (NYSE:UNM) has received an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $63.64.

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. decreased their price objective on Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Piper Sandler restated an “overweight” rating and set a $66.00 price objective (up from $64.00) on shares of Unum Group in a research report on Friday, September 27th. Jefferies Financial Group upped their price objective on Unum Group from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Evercore ISI upped their target price on Unum Group from $56.00 to $58.00 and gave the company an “in-line” rating in a research note on Wednesday, June 26th. Finally, Barclays cut their target price on Unum Group from $73.00 to $72.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th.

Insider Buying and Selling at Unum Group

In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $54.11, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Unum Group news, CEO Richard P. Mckenney sold 67,795 shares of Unum Group stock in a transaction dated Thursday, September 5th. The stock was 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 in the company, valued at approximately $58,601,422.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total value of $541,100.00. Following the sale, the executive vice president now owns 64,821 shares in the company, valued at $3,507,464.31. This trade represents a 0.00 % 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 Investors Weigh In On Unum Group

Institutional investors have recently modified their holdings of the business. Versant Capital Management Inc grew its position in shares of Unum Group by 361.5% during the 2nd quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 394 shares during the period. V Square Quantitative Management LLC acquired a new stake in Unum Group in the 2nd quarter worth about $26,000. Salomon & Ludwin LLC acquired a new stake in Unum Group in the 1st quarter worth about $28,000. 1620 Investment Advisors Inc. acquired a new stake in Unum Group in the 2nd quarter worth about $29,000. Finally, MCF Advisors LLC acquired a new stake in Unum Group in the 1st quarter worth about $35,000. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Unum Group Price Performance

NYSE:UNM opened at $63.62 on Thursday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $12.05 billion, a P/E ratio of 9.45, a P/E/G ratio of 0.93 and a beta of 0.77. Unum Group has a 12 month low of $41.75 and a 12 month high of $64.52. The business’s 50-day moving average is $57.21 and its 200 day moving average is $53.84.

Unum Group (NYSE:UNM) last posted 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 company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.23 billion. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.06 earnings per share. On average, equities research analysts forecast that Unum Group will post 8.49 earnings per share for the current fiscal year.

Unum Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 25th will be paid a $0.42 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.64%. Unum Group’s dividend payout ratio (DPR) is 24.96%.

Unum Group declared that its Board of Directors has initiated a share buyback program on Tuesday, July 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 10% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.