Unum Group (NYSE:UNM) Price Target Raised to $74.00

Unum Group (NYSE:UNM) had its price target hoisted by Barclays from $72.00 to $74.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. cut their price target on Unum Group from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Bank of America increased their target price on shares of Unum Group from $54.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. UBS Group raised shares of Unum Group to a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company increased their price objective on shares of Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group raised their price objective on shares of Unum Group from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.09.

Unum Group Price Performance

NYSE UNM opened at $64.12 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $11.71 billion, a P/E ratio of 6.94, a PEG ratio of 0.94 and a beta of 0.76. The company has a 50-day moving average price of $58.81 and a 200-day moving average price of $54.51. Unum Group has a 52 week low of $41.75 and a 52 week high of $64.91.

Unum Group (NYSE:UNM) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.03. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period last year, the firm earned $1.94 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Equities research analysts anticipate that Unum Group will post 8.52 earnings per share for the current year.

Unum Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Friday, October 25th. Unum Group’s dividend payout ratio (DPR) is presently 18.18%.

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

Insider Buying and Selling

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

Institutional Trading of Unum Group

Large investors have recently made changes to their positions in the business. Nordea Investment Management AB lifted its holdings in shares of Unum Group by 51.7% in the 1st quarter. Nordea Investment Management AB now owns 2,961,539 shares of the financial services provider’s stock valued at $158,590,000 after acquiring an additional 1,008,776 shares during the last quarter. ProShare Advisors LLC raised its position in Unum Group by 89.8% during the second quarter. ProShare Advisors LLC now owns 1,207,756 shares of the financial services provider’s stock valued at $61,728,000 after purchasing an additional 571,436 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Unum Group by 62.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,119,870 shares of the financial services provider’s stock valued at $57,237,000 after purchasing an additional 432,240 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in shares of Unum Group by 8.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 872,808 shares of the financial services provider’s stock worth $44,609,000 after purchasing an additional 64,661 shares during the period. Finally, Sei Investments Co. increased its position in shares of Unum Group by 9.5% during the 2nd quarter. Sei Investments Co. now owns 413,350 shares of the financial services provider’s stock valued at $21,127,000 after purchasing an additional 35,723 shares during the last quarter. 86.57% of the stock is currently 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.