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

Unum Group (NYSE:UNM) had its target price raised by JPMorgan Chase & Co. from $81.00 to $87.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Other research analysts have also issued reports about the company. Raymond James upgraded Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 target price for the company in a report on Wednesday, March 5th. Keefe, Bruyette & Woods lifted their price target on Unum Group from $90.00 to $103.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Piper Sandler raised their price target on Unum Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Wells Fargo & Company lifted their price objective on shares of Unum Group from $81.00 to $91.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Finally, Barclays increased their price objective on Unum Group from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.86.

Unum Group Price Performance

Shares of UNM opened at $71.14 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.28. Unum Group has a 1-year low of $48.38 and a 1-year high of $84.48. The firm has a market capitalization of $12.58 billion, a PE ratio of 7.51, a price-to-earnings-growth ratio of 1.14 and a beta of 0.74. The company’s fifty day moving average price is $78.19 and its 200-day moving average price is $72.06.

Unum Group (NYSE:UNM) last announced 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%. On average, equities research analysts predict that Unum Group will post 9.14 EPS for the current year.

Unum Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.36%. The ex-dividend date was Friday, January 24th. Unum Group’s dividend payout ratio is presently 17.74%.

Unum Group declared that its Board of Directors has authorized a share buyback program on Tuesday, February 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 7.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Unum Group news, EVP Lisa G. Iglesias sold 7,000 shares of the business’s 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 of the company’s stock, valued at $2,588,751. The trade was a 18.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard P. Mckenney sold 50,000 shares of Unum Group stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $81.99, for a total value of $4,099,500.00. Following the completion of 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 disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.

Institutional Trading of Unum Group

Several institutional investors have recently modified their holdings of the company. Barrett & Company Inc. boosted its position in Unum Group by 300.0% in the fourth quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock valued at $29,000 after buying an additional 297 shares in the last quarter. Kestra Investment Management LLC acquired a new position in Unum Group during the 4th quarter valued at about $38,000. Millstone Evans Group LLC bought a new position in Unum Group in the fourth quarter valued at approximately $45,000. Quarry LP raised its position in shares of Unum Group by 4,794.7% during the 3rd quarter. Quarry LP now owns 930 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 911 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in Unum Group by 26.4% in the fourth quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 160 shares during the last quarter. Institutional investors and hedge funds 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.