Unum Group (NYSE:UNM) Coverage Initiated by Analysts at BMO Capital Markets

BMO Capital Markets started coverage on shares of Unum Group (NYSE:UNM) in a note issued to investors on Thursday,Benzinga reports. The firm set an “outperform” rating and a $91.00 price target on the financial services provider’s stock. BMO Capital Markets’ price target suggests a potential upside of 20.76% from the stock’s previous close.

Several other equities research analysts have also issued reports on UNM. Wells Fargo & Company lifted their target price on shares of Unum Group from $74.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday, January 14th. Bank of America upped their target price on shares of Unum Group from $54.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Piper Sandler raised their price target on Unum Group from $74.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Barclays upped their price objective on Unum Group from $76.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Morgan Stanley raised their price objective on Unum Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Unum Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.75.

Unum Group Price Performance

Shares of NYSE:UNM opened at $75.36 on Thursday. Unum Group has a 12 month low of $46.39 and a 12 month high of $77.63. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The stock has a market cap of $13.76 billion, a P/E ratio of 8.16, a P/E/G ratio of 1.07 and a beta of 0.81. The company has a 50 day moving average of $73.86 and a 200 day moving average of $63.41.

Unum Group (NYSE:UNM) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.26 billion. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.94 earnings per share. As a group, sell-side analysts forecast that Unum Group will post 8.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Christopher W. Pyne sold 3,250 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $70.02, for a total value of $227,565.00. Following the completion of the sale, the executive vice president now owns 50,762 shares of the company’s stock, valued at $3,554,355.24. This trade represents a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $76.92, for a total transaction of $769,200.00. Following the completion of the transaction, the executive vice president now owns 54,827 shares of the company’s stock, valued at $4,217,292.84. This trade represents a 15.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 107,914 shares of company stock valued at $7,998,745 over the last ninety days. 0.93% of the stock is owned by insiders.

Hedge Funds Weigh In On Unum Group

A number of institutional investors have recently bought and sold shares of UNM. Jacobs Levy Equity Management Inc. grew its holdings in shares of Unum Group by 151.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 509,702 shares of the financial services provider’s stock worth $30,297,000 after acquiring an additional 307,175 shares during the period. Franklin Resources Inc. increased its stake in shares of Unum Group by 50.0% in the 3rd quarter. Franklin Resources Inc. now owns 469,342 shares of the financial services provider’s stock worth $29,554,000 after acquiring an additional 156,380 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Unum Group by 183.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 170,100 shares of the financial services provider’s stock valued at $8,694,000 after acquiring an additional 110,100 shares during the period. International Assets Investment Management LLC grew its holdings in Unum Group by 5,844.0% in the third quarter. International Assets Investment Management LLC now owns 101,048 shares of the financial services provider’s stock worth $6,006,000 after purchasing an additional 99,348 shares during the period. Finally, Algert Global LLC lifted its holdings in shares of Unum Group by 69.5% during the third quarter. Algert Global LLC now owns 236,264 shares of the financial services provider’s stock valued at $14,044,000 after purchasing an additional 96,916 shares during the last quarter. 86.57% of the stock is owned by institutional investors.

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.