Unum Group (NYSE:UNM) Stock Price Expected to Rise, Barclays Analyst Says

Unum Group (NYSE:UNM) had its target price raised by equities research analysts at Barclays from $72.00 to $74.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price suggests a potential upside of 15.25% from the company’s current price.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group upped their price target on shares of Unum Group from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Truist Financial upped their price target on shares of Unum Group from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Bank of America boosted their price objective on shares of Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Citigroup boosted their price objective on shares of Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company boosted their price objective on shares of Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Five 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.64.

Unum Group Trading Down 0.3 %

NYSE UNM opened at $64.21 on Wednesday. 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 $64.91. The stock has a market capitalization of $12.16 billion, a PE ratio of 9.56, a price-to-earnings-growth ratio of 0.91 and a beta of 0.77. The firm has a 50 day moving average of $58.61 and a two-hundred day moving average of $54.44.

Unum Group (NYSE:UNM) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.04. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.26 billion. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.94 EPS. As a group, research analysts expect that Unum Group will post 8.49 EPS for the current fiscal year.

Unum Group declared that its board has authorized a share buyback program on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 10% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Unum Group

In related news, EVP Timothy Gerald Arnold sold 10,000 shares of the 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 directly owns 64,821 shares of the company’s stock, valued at approximately $3,507,464.31. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Timothy Gerald Arnold sold 10,000 shares of the 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 directly owns 64,821 shares of the company’s stock, valued at approximately $3,507,464.31. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,065,868 shares in the company, valued at approximately $58,601,422.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Unum Group

Several hedge funds have recently modified their holdings of UNM. Quadrature Capital Ltd purchased a new position in shares of Unum Group during the first quarter valued at approximately $1,130,000. Tidal Investments LLC raised its holdings in Unum Group by 80.7% in the 1st quarter. Tidal Investments LLC now owns 64,008 shares of the financial services provider’s stock valued at $3,436,000 after acquiring an additional 28,580 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in Unum Group by 8.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 872,808 shares of the financial services provider’s stock valued at $44,609,000 after acquiring an additional 64,661 shares during the last quarter. Nordea Investment Management AB raised its holdings in Unum Group by 51.7% in the 1st quarter. Nordea Investment Management AB now owns 2,961,539 shares of the financial services provider’s stock valued at $158,590,000 after acquiring an additional 1,008,776 shares during the last quarter. Finally, Cetera Advisors LLC acquired a new position in Unum Group in the 1st quarter valued at $703,000. 86.57% of the stock is owned by institutional investors and hedge funds.

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.