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

Unum Group (NYSE:UNM) had its price target raised by UBS Group from $75.00 to $91.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price objective suggests a potential upside of 9.80% from the company’s previous close.

Several other analysts have also recently weighed in on the company. Raymond James upgraded Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 price target on the stock in a report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their target price on shares of Unum Group from $81.00 to $87.00 and gave the stock a “neutral” rating in a report on Wednesday. Piper Sandler upped their price target on shares of Unum Group from $87.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday. BMO Capital Markets lifted their price target on shares of Unum Group from $95.00 to $102.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Finally, StockNews.com downgraded Unum Group from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Five equities 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 presently has an average rating of “Moderate Buy” and an average price target of $87.86.

Unum Group Price Performance

UNM stock traded up $0.88 during trading on Wednesday, reaching $82.88. 160,774 shares of the company were exchanged, compared to its average volume of 1,251,102. Unum Group has a twelve month low of $48.38 and a twelve month high of $84.48. 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 capitalization of $14.65 billion, a price-to-earnings ratio of 8.76, a P/E/G ratio of 1.14 and a beta of 0.74. The company has a 50-day moving average of $77.91 and a two-hundred day moving average of $71.63.

Unum Group (NYSE:UNM) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.03 EPS for the quarter, missing analysts’ consensus estimates 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, equities analysts predict that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group declared that its Board of Directors has initiated a stock buyback program 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 shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Richard P. Mckenney sold 50,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 980,637 shares in the company, valued at $80,402,427.63. This trade represents a 4.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Lisa G. Iglesias sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $82.75, for a total value of $579,250.00. Following the transaction, the executive vice president now directly owns 31,284 shares in the company, valued at approximately $2,588,751. This trade represents a 18.28 % 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.

Hedge Funds Weigh In On Unum Group

Large investors have recently modified their holdings of the company. Citigroup Inc. raised its holdings in Unum Group by 15.1% during the third quarter. Citigroup Inc. now owns 62,491 shares of the financial services provider’s stock worth $3,714,000 after buying an additional 8,186 shares during the last quarter. Townsquare Capital LLC increased its position in shares of Unum Group by 12.5% during the third quarter. Townsquare Capital LLC now owns 12,136 shares of the financial services provider’s stock worth $721,000 after acquiring an additional 1,350 shares in the last quarter. Erste Asset Management GmbH bought a new stake in shares of Unum Group during the third quarter worth about $516,000. Benjamin Edwards Inc. acquired a new stake in shares of Unum Group in the 3rd quarter worth about $608,000. Finally, Centiva Capital LP lifted its position in Unum Group by 79.5% in the 3rd quarter. Centiva Capital LP now owns 8,290 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 3,671 shares in the last quarter. 86.57% of the stock is currently owned by 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.