Unum Group (NYSE:UNM) PT Lowered to $72.00 at Barclays

Unum Group (NYSE:UNM) had its target price reduced by Barclays from $73.00 to $72.00 in a research report released on Tuesday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. cut their target price on Unum Group from $65.00 to $63.00 and set an overweight rating on the stock in a research note on Thursday, October 3rd. Citigroup upped their price objective on Unum Group from $62.00 to $69.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. Jefferies Financial Group upped their price objective on Unum Group from $63.00 to $64.00 and gave the stock a buy rating in a research report on Wednesday, July 10th. Wells Fargo & Company increased their target price on Unum Group from $66.00 to $69.00 and gave the company an overweight rating in a research report on Monday, August 12th. Finally, Piper Sandler reiterated an overweight rating and set a $66.00 target price (up previously from $64.00) on shares of Unum Group in a research report on Friday, September 27th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $63.64.

Unum Group Stock Performance

UNM stock opened at $61.68 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.28 and a quick ratio of 0.28. The business has a 50-day moving average price of $55.98 and a 200 day moving average price of $53.43. The company has a market capitalization of $11.46 billion, a P/E ratio of 9.07, a PEG ratio of 0.91 and a beta of 0.77. Unum Group has a 1-year low of $41.75 and a 1-year high of $62.21.

Unum Group (NYSE:UNM) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.14. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.23 billion. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.06 earnings per share. As a group, equities research analysts forecast that Unum Group will post 8.47 EPS for the current fiscal year.

Unum Group announced that its Board of Directors has initiated a share repurchase program on Tuesday, July 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 10% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, CEO Richard P. Mckenney sold 67,795 shares of Unum Group stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $54.98, for a total value of $3,727,369.10. Following the completion of the transaction, the chief executive officer now owns 1,065,868 shares in the company, valued at approximately $58,601,422.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Richard P. Mckenney sold 67,795 shares of Unum Group stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $54.98, for a total value of $3,727,369.10. Following the completion of the transaction, the chief executive officer now owns 1,065,868 shares in the company, valued at approximately $58,601,422.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total value of $541,100.00. Following the completion of the transaction, the executive vice president now owns 64,821 shares of the company’s stock, valued at $3,507,464.31. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Unum Group

Institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its stake in Unum Group by 361.5% during the second quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 394 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Unum Group during the second quarter worth approximately $26,000. Salomon & Ludwin LLC purchased a new stake in Unum Group during the first quarter worth approximately $28,000. 1620 Investment Advisors Inc. purchased a new stake in Unum Group during the second quarter worth approximately $29,000. Finally, MCF Advisors LLC purchased a new stake in Unum Group during the first quarter worth approximately $35,000. Hedge funds and other institutional investors 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.