Unum Group (NYSE:UNM) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Unum Group (NYSE:UNM) from a buy rating to a hold rating in a research note published on Friday morning.

Several other research analysts have also commented on the stock. Piper Sandler upped their price objective on shares of Unum Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Wells Fargo & Company upped their target price on shares of Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Barclays upped their target price on shares of Unum Group from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Jefferies Financial Group upped their target price on shares of Unum Group from $91.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Raymond James raised shares of Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 target price on the stock in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $86.62.

Unum Group Stock Down 0.5 %

Shares of NYSE UNM opened at $79.05 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. Unum Group has a 12 month low of $48.38 and a 12 month high of $83.96. The firm has a market capitalization of $14.44 billion, a PE ratio of 8.35, a price-to-earnings-growth ratio of 1.14 and a beta of 0.80. The firm has a fifty day simple moving average of $75.47 and a two-hundred day simple moving average of $68.35.

Unum Group (NYSE:UNM) last issued its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.03 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.11). Unum Group had a return on equity of 14.91% and a net margin of 13.81%. Equities analysts expect that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.13%. The ex-dividend date was Friday, January 24th. Unum Group’s dividend payout ratio (DPR) is 17.74%.

Unum Group declared that its board has initiated a stock buyback plan on Tuesday, February 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 7.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Unum Group

In other Unum Group news, CEO Richard P. Mckenney sold 50,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the transaction, the chief executive officer now owns 980,637 shares in the company, valued at approximately $80,402,427.63. This represents a 4.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lisa G. Iglesias sold 7,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $82.75, for a total transaction of $579,250.00. Following the transaction, the executive vice president now owns 31,284 shares in the company, valued at $2,588,751. This represents a 18.28 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Unum Group

Several hedge funds and other institutional investors have recently bought and sold shares of UNM. Farther Finance Advisors LLC lifted its stake in Unum Group by 60.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,218 shares of the financial services provider’s stock valued at $191,000 after acquiring an additional 1,211 shares during the period. Van ECK Associates Corp lifted its stake in shares of Unum Group by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 108,076 shares of the financial services provider’s stock worth $6,855,000 after purchasing an additional 30,881 shares during the period. QRG Capital Management Inc. lifted its stake in shares of Unum Group by 2.8% in the 3rd quarter. QRG Capital Management Inc. now owns 13,147 shares of the financial services provider’s stock worth $781,000 after purchasing an additional 361 shares during the period. Concurrent Investment Advisors LLC lifted its stake in shares of Unum Group by 3.9% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 17,950 shares of the financial services provider’s stock worth $1,067,000 after purchasing an additional 674 shares during the period. Finally, M&G PLC lifted its stake in shares of Unum Group by 2.9% in the 3rd quarter. M&G PLC now owns 192,608 shares of the financial services provider’s stock worth $11,364,000 after purchasing an additional 5,487 shares during the period. 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.