Unum Group (NYSE:UNM) Price Target Raised to $91.00

Unum Group (NYSE:UNM) had its price objective boosted by equities researchers at Wells Fargo & Company from $81.00 to $91.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 23.01% from the stock’s previous close.

A number of other research firms have also commented on UNM. Truist Financial upped their price target on Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Jefferies Financial Group upped their price target on Unum Group from $91.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Piper Sandler upped their price target on Unum Group from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods upped their price target on Unum Group from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $79.00 target price (up previously from $74.00) on shares of Unum Group in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.17.

Unum Group Trading Down 0.5 %

NYSE UNM opened at $73.98 on Wednesday. Unum Group has a 1-year low of $48.38 and a 1-year high of $79.43. 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 stock has a 50-day moving average of $74.19 and a 200-day moving average of $66.35. The firm has a market cap of $13.51 billion, a PE ratio of 7.81, a price-to-earnings-growth ratio of 1.13 and a beta of 0.80.

Unum Group (NYSE:UNM) last released its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.03 EPS for the quarter, missing analysts’ consensus estimates 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 9.15 EPS for the current year.

Unum Group announced that its board has authorized a stock repurchase program on Tuesday, February 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Unum Group

In other news, CEO Richard P. Mckenney sold 58,865 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $75.39, for a total value of $4,437,832.35. Following the transaction, the chief executive officer now directly owns 1,007,003 shares in the company, valued at $75,917,956.17. This trade represents a 5.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Gloria C. Larson sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $74.50, for a total value of $745,000.00. Following the completion of the transaction, the director now owns 121,491 shares in the company, valued at approximately $9,051,079.50. This trade represents a 7.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,865 shares of company stock worth $5,952,032. Insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Unum Group

Institutional investors and hedge funds have recently modified their holdings of the company. Barrett & Company Inc. boosted its stake in shares of Unum Group by 300.0% in the 4th quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock worth $29,000 after buying an additional 297 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Unum Group in the 3rd quarter worth $31,000. Kestra Investment Management LLC bought a new position in Unum Group in the 4th quarter worth $38,000. Millstone Evans Group LLC bought a new position in Unum Group in the 4th quarter worth $45,000. Finally, Quarry LP raised its holdings in Unum Group by 4,794.7% in the 3rd quarter. Quarry LP now owns 930 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 911 shares during the period. 86.57% of the stock is currently owned by hedge funds and other 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.