Wells Fargo & Company Cuts Unum Group (NYSE:UNM) Price Target to $95.00

Unum Group (NYSE:UNM) had its target price lowered by Wells Fargo & Company from $97.00 to $95.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other research analysts have also weighed in on the company. Keefe, Bruyette & Woods reduced their price target on Unum Group from $103.00 to $102.00 and set an “outperform” rating on the stock in a research note on Wednesday. StockNews.com downgraded Unum Group from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Morgan Stanley lifted their price target on Unum Group from $80.00 to $84.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Piper Sandler upped their price objective on shares of Unum Group from $87.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Finally, BMO Capital Markets raised their target price on shares of Unum Group from $95.00 to $102.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.36.

Unum Group Stock Performance

NYSE UNM opened at $75.28 on Thursday. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32. Unum Group has a fifty-two week low of $48.38 and a fifty-two week high of $84.48. The business has a fifty day moving average of $77.80 and a 200-day moving average of $72.85. The stock has a market cap of $13.31 billion, a price-to-earnings ratio of 7.95, a price-to-earnings-growth ratio of 1.14 and a beta of 0.46.

Unum Group (NYSE:UNM) last announced its 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%. As a group, analysts predict that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, April 25th. Unum Group’s dividend payout ratio is presently 17.74%.

Unum Group announced that its Board of Directors has approved a stock repurchase plan on Tuesday, February 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 7.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, 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 sale, 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 filing with the SEC, which is accessible through the SEC website. Also, CEO Richard P. Mckenney sold 50,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the completion of the transaction, the chief executive officer now directly owns 980,637 shares of the company’s stock, valued at approximately $80,402,427.63. The trade was a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Unum Group

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Unum Group by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 20,497,586 shares of the financial services provider’s stock valued at $1,496,939,000 after buying an additional 1,596,078 shares during the last quarter. Norges Bank acquired a new stake in Unum Group in the fourth quarter valued at $1,003,918,000. Charles Schwab Investment Management Inc. boosted its stake in Unum Group by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,552,252 shares of the financial services provider’s stock valued at $405,481,000 after acquiring an additional 51,744 shares during the last quarter. Northern Trust Corp boosted its stake in Unum Group by 33.2% during the 4th quarter. Northern Trust Corp now owns 1,930,349 shares of the financial services provider’s stock valued at $140,973,000 after acquiring an additional 480,926 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in Unum Group by 15.4% during the 4th quarter. First Trust Advisors LP now owns 1,708,452 shares of the financial services provider’s stock worth $124,768,000 after acquiring an additional 227,644 shares in 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.