Unum Group (NYSE:UNM) Given New $70.00 Price Target at Truist Financial

Unum Group (NYSE:UNM) had its price target increased by Truist Financial from $62.00 to $70.00 in a report issued on Thursday, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Several other analysts have also recently issued reports on the stock. Citigroup increased their target price on shares of Unum Group from $62.00 to $69.00 and gave the stock a buy rating in a research note on Tuesday, July 23rd. Morgan Stanley raised their price objective on shares of Unum Group from $50.00 to $52.00 and gave the company an equal weight rating in a research report on Monday, April 15th. Piper Sandler began coverage on shares of Unum Group in a report on Thursday, July 11th. They issued an overweight rating and a $57.00 price objective for the company. Jefferies Financial Group increased their target price on Unum Group from $63.00 to $64.00 and gave the company a buy rating in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. raised their price target on shares of Unum Group from $64.00 to $65.00 and gave the stock an overweight rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $61.44.

Unum Group Trading Down 4.7 %

Shares of UNM stock opened at $53.90 on Thursday. The stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of 8.01, a PEG ratio of 0.79 and a beta of 0.81. The company’s fifty day simple moving average is $51.98 and its two-hundred day simple moving average is $51.07. Unum Group has a 1 year low of $41.75 and a 1 year high of $58.17. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.28 and a quick ratio of 0.28.

Unum Group (NYSE:UNM) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.14. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same period in the previous year, the company posted $2.06 EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, analysts anticipate that Unum Group will post 8.51 earnings per share for the current year.

Unum Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, July 26th will be issued a $0.42 dividend. The ex-dividend date is Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 3.12%. This is a positive change from Unum Group’s previous quarterly dividend of $0.37. Unum Group’s payout ratio is currently 24.96%.

Insider Transactions at Unum Group

In other Unum Group news, Director Timothy F. Keaney sold 8,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $52.61, for a total value of $420,880.00. Following the sale, the director now directly owns 37,505 shares of the company’s stock, valued at $1,973,138.05. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Timothy F. Keaney sold 8,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $52.61, for a total transaction of $420,880.00. Following the completion of the transaction, the director now owns 37,505 shares in the company, valued at approximately $1,973,138.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Christopher W. Pyne sold 4,500 shares of Unum Group 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 completion of the sale, the executive vice president now directly owns 56,262 shares in the company, valued at $2,952,067.14. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

Institutional Trading of Unum Group

Several institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in Unum Group by 7.1% in the first quarter. GAMMA Investing LLC now owns 3,071 shares of the financial services provider’s stock valued at $165,000 after acquiring an additional 204 shares in the last quarter. QRG Capital Management Inc. raised its stake in Unum Group by 1.8% during the 2nd quarter. QRG Capital Management Inc. now owns 12,786 shares of the financial services provider’s stock valued at $654,000 after acquiring an additional 226 shares during the last quarter. FinTrust Capital Advisors LLC lifted its holdings in shares of Unum Group by 20.4% during the first quarter. FinTrust Capital Advisors LLC now owns 1,457 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 247 shares during the period. Bank of Nova Scotia lifted its stake in shares of Unum Group by 2.8% in the 4th quarter. Bank of Nova Scotia now owns 9,193 shares of the financial services provider’s stock worth $416,000 after acquiring an additional 249 shares during the period. Finally, XML Financial LLC boosted its holdings in Unum Group by 1.3% in the 1st quarter. XML Financial LLC now owns 19,630 shares of the financial services provider’s stock valued at $1,053,000 after purchasing an additional 250 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.