Unum Group (NYSE:UNM) Reaches New 1-Year High – Time to Buy?

Unum Group (NYSE:UNM)’s share price hit a new 52-week high on Wednesday . The company traded as high as $78.68 and last traded at $78.01, with a volume of 487665 shares. The stock had previously closed at $75.95.

Wall Street Analysts Forecast Growth

UNM has been the topic of a number of research reports. Wells Fargo & Company increased their price target on Unum Group from $74.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 14th. Jefferies Financial Group increased their price target on Unum Group from $91.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Truist Financial increased their price target on Unum Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $79.00 target price (up from $74.00) on shares of Unum Group in a research report on Tuesday, January 7th. Finally, Evercore ISI raised Unum Group from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $67.00 to $84.00 in a research note on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

Unum Group Stock Up 2.0 %

The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market cap of $14.14 billion, a PE ratio of 8.37, a P/E/G ratio of 1.08 and a beta of 0.80. The business has a fifty day moving average price of $74.22 and a two-hundred day moving average price of $64.99.

Unum Group (NYSE:UNM) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). Unum Group had a net margin of 13.76% and a return on equity of 15.21%. On average, analysts anticipate that Unum Group will post 8.54 EPS for the current fiscal year.

Unum Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 24th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.68 dividend on an annualized basis and a yield of 2.17%. Unum Group’s payout ratio is 18.18%.

Insider Activity at Unum Group

In other news, EVP Timothy Gerald Arnold sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $76.92, for a total value of $769,200.00. Following the transaction, the executive vice president now directly owns 54,827 shares of the company’s stock, valued at $4,217,292.84. The trade was a 15.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard P. Mckenney sold 58,865 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 1,007,003 shares in the company, valued at $75,917,956.17. The trade was a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,664 shares of company stock valued at $7,450,380. Insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Cetera Investment Advisers lifted its holdings in Unum Group by 9.5% during the 2nd quarter. Cetera Investment Advisers now owns 36,132 shares of the financial services provider’s stock worth $1,847,000 after buying an additional 3,143 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Unum Group in the 2nd quarter valued at $1,141,000. SG Americas Securities LLC acquired a new position in shares of Unum Group in the 3rd quarter valued at $513,000. Handelsbanken Fonder AB lifted its stake in shares of Unum Group by 15.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 49,807 shares of the financial services provider’s stock valued at $2,961,000 after purchasing an additional 6,700 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Unum Group by 22.9% in the 3rd quarter. GAMMA Investing LLC now owns 7,213 shares of the financial services provider’s stock valued at $429,000 after purchasing an additional 1,346 shares during the period. 86.57% of the stock is owned by institutional investors and hedge funds.

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.