Stock Buyback Program Announced by Unum Group (NYSE:UNM) Board of Directors

Unum Group (NYSE:UNM) announced that its board has authorized a stock repurchase plan on Tuesday, February 18th, RTT News reports. The company plans to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 7.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of Unum Group in a report on Thursday, January 23rd. They issued an “outperform” rating and a $91.00 price target on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $79.00 price target (up previously from $74.00) on shares of Unum Group in a report on Tuesday, January 7th. Piper Sandler lifted their price target on shares of Unum Group from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. StockNews.com upgraded shares of Unum Group from a “hold” rating to a “buy” rating in a report on Friday. Finally, Truist Financial lifted their price target on shares of Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $80.33.

Unum Group Stock Down 0.5 %

Unum Group stock traded down $0.38 on Tuesday, hitting $73.98. 1,304,667 shares of the stock traded hands, compared to its average volume of 1,123,051. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The firm has a market cap of $13.51 billion, a P/E ratio of 7.81, a price-to-earnings-growth ratio of 1.17 and a beta of 0.80. The business’s fifty day simple moving average is $74.19 and its 200 day simple moving average is $66.35. Unum Group has a 1 year low of $48.38 and a 1 year high of $79.43.

Unum Group (NYSE:UNM) last announced 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 net margin of 13.81% and a return on equity of 14.91%. As a group, sell-side analysts forecast that Unum Group will post 9.12 earnings per share for the current year.

Unum Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Friday, January 24th. Unum Group’s dividend payout ratio is presently 17.74%.

Insider Transactions at Unum Group

In related news, EVP Lisa G. Iglesias sold 5,000 shares of Unum Group stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $72.61, for a total value of $363,050.00. Following the completion of the sale, the executive vice president now directly owns 35,840 shares in the company, valued at approximately $2,602,342.40. This trade represents a 12.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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, November 27th. The stock was sold at an average price of $76.92, for a total value of $769,200.00. Following the completion of the sale, the executive vice president now owns 54,827 shares of the company’s stock, valued at $4,217,292.84. The trade was a 15.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 83,865 shares of company stock valued at $6,315,082 in the last quarter. 0.93% of the stock is owned by insiders.

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.