Unum Group (NYSE:UNM) Price Target Raised to $66.00

Unum Group (NYSE:UNM) had its target price lifted by Evercore ISI from $59.00 to $66.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has an in-line rating on the financial services provider’s stock.

A number of other equities research analysts have also recently weighed in on UNM. Truist Financial raised their price target on Unum Group from $62.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Bank of America raised their target price on Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Wells Fargo & Company upped their price target on shares of Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. UBS Group upgraded shares of Unum Group to a “hold” rating in a research report on Wednesday, October 9th. Finally, Citigroup upped their target price on shares of Unum Group from $62.00 to $69.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.09.

Unum Group Stock Down 0.1 %

Shares of NYSE UNM opened at $64.12 on Wednesday. Unum Group has a 52-week low of $41.75 and a 52-week high of $64.91. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.28. The business has a fifty day moving average of $58.81 and a two-hundred day moving average of $54.51. The stock has a market cap of $11.71 billion, a PE ratio of 6.94, a PEG ratio of 0.94 and a beta of 0.76.

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

Unum Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 25th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, October 25th. Unum Group’s dividend payout ratio (DPR) is currently 18.18%.

Unum Group announced that its Board of Directors has approved a share repurchase program on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 10% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Unum Group

In other Unum Group news, CEO Richard P. Mckenney sold 67,795 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 1,065,868 shares in the company, valued at approximately $58,601,422.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 completion of the transaction, the executive vice president now owns 64,821 shares of the company’s stock, valued at $3,507,464.31. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard P. Mckenney sold 67,795 shares of the company’s 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 completion of the sale, the chief executive officer now owns 1,065,868 shares of the company’s stock, valued at approximately $58,601,422.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UNM. Versant Capital Management Inc lifted its holdings in shares of Unum Group by 361.5% during the 2nd quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 394 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Unum Group in the second quarter valued at approximately $26,000. Salomon & Ludwin LLC acquired a new position in shares of Unum Group in the first quarter valued at approximately $28,000. Capital Performance Advisors LLP bought a new stake in shares of Unum Group during the third quarter worth $31,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Unum Group during the second quarter worth $29,000. 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.