Unum Group (NYSE:UNM) Hits New 52-Week High – What’s Next?

Unum Group (NYSE:UNM) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $84.48 and last traded at $83.92, with a volume of 166517 shares traded. The stock had previously closed at $83.34.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on UNM. Barclays raised their target price on Unum Group from $76.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Morgan Stanley lifted their price objective on shares of Unum Group from $80.00 to $84.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. BMO Capital Markets boosted their target price on shares of Unum Group from $95.00 to $102.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. Piper Sandler lifted their price target on Unum Group from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company raised their target price on Unum Group from $81.00 to $91.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.62.

Unum Group Price Performance

The firm has a market capitalization of $14.83 billion, a P/E ratio of 8.86, a P/E/G ratio of 1.14 and a beta of 0.74. The business’s fifty day moving average is $77.15 and its 200 day moving average is $70.66. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM) last posted its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share (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, analysts forecast that Unum Group will post 9.14 EPS for the current year.

Unum Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were given a $0.42 dividend. The ex-dividend date was Friday, January 24th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.00%. Unum Group’s dividend payout ratio (DPR) is 17.74%.

Unum Group announced that its board has approved a share repurchase plan on Tuesday, February 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 7.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Richard P. Mckenney sold 50,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $81.99, for a total value of $4,099,500.00. Following the completion of the sale, the chief executive officer now owns 980,637 shares in the company, valued at $80,402,427.63. This represents a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lisa G. Iglesias sold 7,000 shares of Unum Group stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $82.75, for a total value of $579,250.00. Following the transaction, the executive vice president now owns 31,284 shares in the company, valued at $2,588,751. This represents a 18.28 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Unum Group

A number of large investors have recently made changes to their positions in UNM. Franklin Resources Inc. boosted its holdings in shares of Unum Group by 50.0% during the third quarter. Franklin Resources Inc. now owns 469,342 shares of the financial services provider’s stock worth $29,554,000 after purchasing an additional 156,380 shares during the period. Blue Trust Inc. boosted its stake in shares of Unum Group by 44.1% during the 4th quarter. Blue Trust Inc. now owns 16,495 shares of the financial services provider’s stock valued at $1,205,000 after buying an additional 5,047 shares during the period. Kovitz Investment Group Partners LLC purchased a new position in shares of Unum Group during the 3rd quarter valued at $1,074,000. Picton Mahoney Asset Management acquired a new position in shares of Unum Group in the fourth quarter worth $8,816,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Unum Group by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,552,252 shares of the financial services provider’s stock worth $405,481,000 after acquiring an additional 51,744 shares in the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

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.