Analysts Set Unum Group (NYSE:UNM) Target Price at $66.09

Shares of Unum Group (NYSE:UNM) have received an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $67.73.

A number of research firms recently commented on UNM. Piper Sandler reiterated an “overweight” rating and set a $66.00 price target (up from $64.00) on shares of Unum Group in a report on Friday, September 27th. JPMorgan Chase & Co. lowered their price target on Unum Group from $65.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Bank of America lifted their price objective on Unum Group from $54.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Truist Financial upped their target price on Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Barclays boosted their price objective on shares of Unum Group from $72.00 to $74.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th.

Unum Group Trading Up 1.3 %

UNM stock opened at $73.19 on Monday. Unum Group has a one year low of $41.86 and a one year high of $73.24. The company has a market capitalization of $13.37 billion, a PE ratio of 7.92, a price-to-earnings-growth ratio of 1.07 and a beta of 0.76. The company’s 50 day moving average price is $61.92 and its two-hundred day moving average price is $55.95. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.28.

Unum Group (NYSE:UNM) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.10 by $0.03. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the previous year, the business earned $1.94 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, analysts predict that Unum Group will post 8.53 earnings per share for the current fiscal year.

Unum Group announced that its Board of Directors has authorized a share buyback program on Tuesday, July 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 10% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

Unum Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 25th were given a dividend of $0.42 per share. The ex-dividend date was Friday, October 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.30%. Unum Group’s dividend payout ratio (DPR) is currently 18.18%.

Insider Activity

In other news, Director Hanley Ronald P. O sold 14,299 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $72.10, for a total transaction of $1,030,957.90. Following the completion of the transaction, the director now directly owns 38,819 shares in the company, valued at $2,798,849.90. This trade represents a 26.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher W. Pyne sold 3,250 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $70.02, for a total transaction of $227,565.00. Following the completion of the transaction, the executive vice president now owns 50,762 shares in the company, valued at approximately $3,554,355.24. The trade was a 6.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,844 shares of company stock worth $5,411,032. Insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Unum Group

Several institutional investors and hedge funds have recently made changes to their positions in UNM. Versant Capital Management Inc boosted its stake in Unum Group by 361.5% during the 2nd quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 394 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Unum Group during the second quarter valued at $26,000. Capital Performance Advisors LLP purchased a new stake in shares of Unum Group during the third quarter valued at $31,000. 1620 Investment Advisors Inc. purchased a new position in Unum Group in the 2nd quarter worth about $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Unum Group during the 3rd quarter valued at about $37,000. Institutional investors own 86.57% of the company’s stock.

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.