Unum Group (NYSE:UNM) Price Target Raised to $58.00

Unum Group (NYSE:UNM) had its price target raised by investment analysts at Evercore ISI from $56.00 to $58.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “in-line” rating on the financial services provider’s stock. Evercore ISI’s target price would suggest a potential upside of 15.61% from the company’s previous close.

UNM has been the subject of several other research reports. JPMorgan Chase & Co. raised their price target on Unum Group from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Truist Financial lifted their target price on Unum Group from $57.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Morgan Stanley lifted their target price on Unum Group from $50.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, Wells Fargo & Company lifted their target price on Unum Group from $64.00 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.44.

Unum Group Stock Down 1.3 %

UNM traded down $0.65 on Wednesday, hitting $50.17. The company had a trading volume of 263,293 shares, compared to its average volume of 1,260,172. The stock has a fifty day moving average price of $51.66 and a 200-day moving average price of $49.63. Unum Group has a 12-month low of $41.75 and a 12-month high of $54.57. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market capitalization of $9.50 billion, a price-to-earnings ratio of 7.45, a P/E/G ratio of 1.08 and a beta of 0.83.

Unum Group (NYSE:UNM) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.15. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.20 billion. Unum Group had a return on equity of 16.02% and a net margin of 10.52%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company earned $1.87 earnings per share. Analysts predict that Unum Group will post 8.24 EPS for the current fiscal year.

Insider Activity

In other news, Director Timothy F. Keaney sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $52.61, for a total value of $420,880.00. Following the completion of the sale, the director now directly owns 37,505 shares in the company, valued at $1,973,138.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Timothy F. Keaney sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $52.61, for a total transaction of $420,880.00. Following the completion of the sale, the director now directly owns 37,505 shares in the company, valued at $1,973,138.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher W. Pyne sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $52.47, for a total value of $236,115.00. Following the sale, the executive vice president now owns 56,262 shares of the company’s stock, valued at $2,952,067.14. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

Institutional Trading of Unum Group

Several large investors have recently made changes to their positions in the company. Keynote Financial Services LLC purchased a new stake in shares of Unum Group during the first quarter worth approximately $1,061,000. DekaBank Deutsche Girozentrale lifted its stake in shares of Unum Group by 57.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 250,712 shares of the financial services provider’s stock valued at $13,392,000 after purchasing an additional 91,026 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in shares of Unum Group in the 1st quarter valued at $74,000. Cetera Advisors LLC acquired a new position in shares of Unum Group in the 1st quarter valued at $703,000. Finally, Cetera Investment Advisers lifted its stake in Unum Group by 33.9% during the 1st quarter. Cetera Investment Advisers now owns 32,989 shares of the financial services provider’s stock worth $1,770,000 after acquiring an additional 8,359 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.