Unum Group (NYSE:UNM) Cut to Hold at StockNews.com

Unum Group (NYSE:UNM) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler raised their target price on Unum Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Wells Fargo & Company upped their price objective on Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Jefferies Financial Group boosted their price target on shares of Unum Group from $91.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Morgan Stanley increased their price target on shares of Unum Group from $80.00 to $84.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Finally, Evercore ISI raised Unum Group from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $67.00 to $84.00 in a research report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.62.

Unum Group Stock Performance

NYSE UNM opened at $79.05 on Friday. The stock’s 50 day simple moving average is $75.59 and its 200-day simple moving average is $68.52. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.28. The company has a market cap of $13.97 billion, a PE ratio of 8.35, a price-to-earnings-growth ratio of 1.14 and a beta of 0.74. Unum Group has a 1-year low of $48.38 and a 1-year high of $83.96.

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 return on equity of 14.91% and a net margin of 13.81%. As a group, equities research analysts anticipate that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group declared that its board has initiated a stock repurchase program on Tuesday, February 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 7.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Richard P. Mckenney sold 50,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 980,637 shares in the company, valued at approximately $80,402,427.63. This represents a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lisa G. Iglesias sold 7,000 shares of Unum Group stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $82.75, for a total transaction of $579,250.00. Following the completion of the transaction, the executive vice president now owns 31,284 shares in the company, valued at approximately $2,588,751. This trade represents a 18.28 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Unum Group

Several institutional investors and hedge funds have recently modified their holdings of UNM. Charles Schwab Investment Management Inc. boosted its position in Unum Group by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,500,508 shares of the financial services provider’s stock valued at $326,950,000 after buying an additional 55,014 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Unum Group by 50.0% during the 3rd quarter. Franklin Resources Inc. now owns 469,342 shares of the financial services provider’s stock valued at $29,554,000 after buying an additional 156,380 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Unum Group by 44.1% during the fourth quarter. Blue Trust Inc. now owns 16,495 shares of the financial services provider’s stock valued at $1,205,000 after purchasing an additional 5,047 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Unum Group by 89.5% in the third quarter. Thrivent Financial for Lutherans now owns 111,831 shares of the financial services provider’s stock worth $6,647,000 after buying an additional 52,813 shares during the period. Finally, Kovitz Investment Group Partners LLC bought a new stake in Unum Group in the third quarter valued at $1,074,000. Hedge funds and other 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.