Unum Group (NYSE:UNM) Price Target Raised to $92.00

Unum Group (NYSE:UNM) had its price target upped by Piper Sandler from $87.00 to $92.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other research firms have also recently commented on UNM. Barclays raised their target price on shares of Unum Group from $76.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. BMO Capital Markets lifted their price objective on Unum Group from $95.00 to $102.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Raymond James raised Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 price target for the company in a report on Wednesday, March 5th. Jefferies Financial Group upped their price objective on Unum Group from $91.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Unum Group from $90.00 to $103.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $87.86.

Unum Group Stock Performance

NYSE UNM opened at $82.93 on Wednesday. The firm has a market cap of $14.66 billion, a P/E ratio of 8.76, a P/E/G ratio of 1.14 and a beta of 0.74. Unum Group has a 52-week low of $48.38 and a 52-week high of $84.48. The business’s 50-day moving average price is $78.20 and its 200 day moving average price is $71.90. 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 (NYSE:UNM) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share (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%. On average, equities research analysts expect that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 24th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Friday, January 24th. Unum Group’s dividend payout ratio (DPR) is presently 17.74%.

Unum Group declared that its board has approved a share repurchase program on Tuesday, February 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 7.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, EVP Lisa G. Iglesias sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $82.75, for a total value of $579,250.00. Following the transaction, the executive vice president now 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 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 business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the sale, the chief executive officer now owns 980,637 shares of the company’s stock, 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 Inflows and Outflows

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