Piper Sandler Issues Positive Forecast for Unum Group (NYSE:UNM) Stock Price

Unum Group (NYSE:UNM) had its price target upped by analysts at Piper Sandler from $82.00 to $87.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective points to a potential upside of 13.04% from the company’s current price.

A number of other research analysts have also recently weighed in on the stock. Barclays boosted their target price on shares of Unum Group from $76.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $79.00 target price (up previously from $74.00) on shares of Unum Group in a report on Tuesday, January 7th. Wells Fargo & Company upped their target price on shares of Unum Group from $74.00 to $81.00 and gave the stock an “overweight” rating in a report on Tuesday, January 14th. UBS Group raised shares of Unum Group to a “hold” rating in a report on Wednesday, October 9th. Finally, Bank of America upped their target price on shares of Unum Group from $54.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.45.

Unum Group Stock Up 0.4 %

Unum Group stock opened at $76.97 on Thursday. The stock has a market cap of $14.05 billion, a P/E ratio of 8.33, a P/E/G ratio of 1.08 and a beta of 0.80. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. Unum Group has a twelve month low of $46.64 and a twelve month high of $79.43. The company’s 50-day moving average price is $74.23 and its two-hundred day moving average price is $65.16.

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 analysts’ consensus estimates of $2.14 by ($0.11). Unum Group had a return on equity of 15.21% and a net margin of 13.76%. As a group, analysts expect that Unum Group will post 8.54 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Timothy Gerald Arnold sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $76.92, for a total value of $769,200.00. Following the completion of the sale, the executive vice president now owns 54,827 shares of the company’s stock, valued at approximately $4,217,292.84. This represents a 15.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard P. Mckenney sold 58,865 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $75.39, for a total transaction of $4,437,832.35. Following the completion of the sale, the chief executive officer now directly owns 1,007,003 shares of the company’s stock, valued at $75,917,956.17. This trade represents a 5.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 98,164 shares of company stock valued at $7,346,040 in the last quarter. Corporate insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Unum Group

A number of institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Unum Group by 0.9% in 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 purchasing an additional 51,744 shares in the last quarter. Victory Capital Management Inc. boosted its position in Unum Group by 23.3% during the 4th quarter. Victory Capital Management Inc. now owns 1,462,917 shares of the financial services provider’s stock valued at $106,837,000 after buying an additional 276,655 shares during the period. Allianz Asset Management GmbH boosted its position in Unum Group by 44.9% during the 4th quarter. Allianz Asset Management GmbH now owns 1,264,994 shares of the financial services provider’s stock valued at $92,383,000 after buying an additional 392,191 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in Unum Group by 151.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 509,702 shares of the financial services provider’s stock valued at $30,297,000 after buying an additional 307,175 shares during the period. Finally, Franklin Resources Inc. boosted its position in 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 period. Hedge funds and other 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.