Unum Group (NYSE:UNM) Price Target Raised to $91.00

Unum Group (NYSE:UNM) had its price target raised by Wells Fargo & Company from $81.00 to $91.00 in a research report sent to investors on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

Several other brokerages have also recently issued reports on UNM. StockNews.com upgraded Unum Group from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Evercore ISI raised Unum Group from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $67.00 to $84.00 in a research report on Thursday, November 14th. BMO Capital Markets began coverage on Unum Group in a research report on Thursday, January 23rd. They set an “outperform” rating and a $91.00 target price on the stock. Morgan Stanley raised their target price on Unum Group from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, 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 report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.17.

Unum Group Stock Performance

Shares of Unum Group stock opened at $74.07 on Wednesday. The business has a 50-day moving average of $74.28 and a 200 day moving average of $66.75. 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 stock has a market capitalization of $13.53 billion, a price-to-earnings ratio of 7.82, a price-to-earnings-growth ratio of 1.14 and a beta of 0.80. Unum Group has a 12 month low of $48.38 and a 12 month high of $79.43.

Unum Group (NYSE:UNM) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share (EPS) 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, sell-side analysts forecast that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Friday, January 24th. Unum Group’s payout ratio is currently 17.74%.

Unum Group declared that its board has initiated a share buyback plan 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 reacquire up to 7.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, EVP Timothy Gerald Arnold sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $76.92, for a total value of $769,200.00. Following the transaction, the executive vice president now owns 54,827 shares of the company’s stock, valued at approximately $4,217,292.84. The trade was a 15.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.93% of the company’s stock.

Institutional Trading of Unum Group

A number of institutional investors have recently modified their holdings of UNM. Bleakley Financial Group LLC boosted its stake in shares of Unum Group by 8.0% in the third quarter. Bleakley Financial Group LLC now owns 6,809 shares of the financial services provider’s stock valued at $405,000 after buying an additional 502 shares in the last quarter. Eastern Bank purchased a new stake in shares of Unum Group in the third quarter valued at approximately $226,000. International Assets Investment Management LLC boosted its stake in shares of Unum Group by 5,844.0% in the third quarter. International Assets Investment Management LLC now owns 101,048 shares of the financial services provider’s stock valued at $6,006,000 after buying an additional 99,348 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Unum Group by 24.5% in the third quarter. Assenagon Asset Management S.A. now owns 325,796 shares of the financial services provider’s stock valued at $19,365,000 after buying an additional 64,062 shares in the last quarter. Finally, Ballentine Partners LLC boosted its stake in shares of Unum Group by 7.1% in the third quarter. Ballentine Partners LLC now owns 6,806 shares of the financial services provider’s stock valued at $405,000 after buying an additional 452 shares in the last quarter. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

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.