Unum Group (NYSE:UNM) PT Raised to $63.00

Unum Group (NYSE:UNM) had its price target boosted by Bank of America from $54.00 to $63.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Bank of America‘s price objective points to a potential upside of 0.43% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on UNM. Evercore ISI increased their price target 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. Piper Sandler reissued an “overweight” rating and set a $66.00 target price (up previously from $64.00) on shares of Unum Group in a research report on Friday, September 27th. JPMorgan Chase & Co. dropped their price target on shares of Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Citigroup increased their price objective on shares of Unum Group from $62.00 to $69.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Barclays dropped their target price on shares of Unum Group from $73.00 to $72.00 and set an “overweight” rating on the stock in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $63.64.

Unum Group Stock Up 1.8 %

Shares of NYSE UNM opened at $62.73 on Thursday. Unum Group has a 1 year low of $41.75 and a 1 year high of $63.25. 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 firm has a market cap of $11.65 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 0.91 and a beta of 0.77. The company has a 50 day simple moving average of $56.15 and a 200 day simple moving average of $53.50.

Unum Group (NYSE:UNM) last issued its quarterly 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. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the previous year, the business earned $2.06 earnings per share. Unum Group’s revenue was up 3.9% compared to the same quarter last year. On average, research analysts forecast that Unum Group will post 8.47 EPS for the current year.

Unum Group announced that its Board of Directors has approved a share repurchase plan on Tuesday, July 30th that permits the company to repurchase $1.00 billion in 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 often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, CEO Richard P. Mckenney sold 67,795 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 1,065,868 shares in the company, valued at $58,601,422.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $54.98, for a total value of $3,727,369.10. Following the transaction, the chief executive officer now directly owns 1,065,868 shares in the company, valued at $58,601,422.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total transaction of $541,100.00. Following the sale, the executive vice president now owns 64,821 shares of the company’s stock, valued at $3,507,464.31. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On Unum Group

Several large investors have recently added to or reduced their stakes in UNM. GAMMA Investing LLC raised its stake in shares of Unum Group by 7.1% in the first quarter. GAMMA Investing LLC now owns 3,071 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 204 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in 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 valued at $518,000 after buying an additional 217 shares during the last quarter. QRG Capital Management Inc. lifted its stake in Unum Group by 1.8% during the 2nd quarter. QRG Capital Management Inc. now owns 12,786 shares of the financial services provider’s stock valued at $654,000 after acquiring an additional 226 shares in the last quarter. FinTrust Capital Advisors LLC boosted its holdings in Unum Group by 20.4% during 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 last quarter. Finally, XML Financial LLC grew its stake in shares of Unum Group by 1.3% in the 1st quarter. XML Financial LLC now owns 19,630 shares of the financial services provider’s stock worth $1,053,000 after acquiring an additional 250 shares in the last quarter. 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.