Piper Sandler Raises Unum Group (NYSE:UNM) Price Target to $87.00

Unum Group (NYSE:UNM) had its price objective raised by equities research analysts at Piper Sandler from $82.00 to $87.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective indicates a potential upside of 13.04% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and set a $79.00 price target (up from $74.00) on shares of Unum Group in a research report on Tuesday, January 7th. Truist Financial lifted their price target on shares of Unum Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets initiated coverage on shares of Unum Group in a research report on Thursday, January 23rd. They set an “outperform” rating and a $91.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of Unum Group from $74.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 14th. Finally, Bank of America lifted their price target on shares of Unum Group from $54.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.45.

Unum Group Price Performance

UNM opened at $76.97 on Thursday. The company has a fifty day moving average price of $74.23 and a two-hundred day moving average price of $65.16. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.28. Unum Group has a 52 week low of $46.64 and a 52 week high of $79.43. The firm has a market capitalization of $14.05 billion, a PE ratio of 8.33, a P/E/G ratio of 1.08 and a beta of 0.80.

Unum Group (NYSE:UNM) last released its 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 return on equity of 15.21% and a net margin of 13.76%. As a group, analysts anticipate that Unum Group will post 8.54 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Lisa G. Iglesias sold 5,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $72.61, for a total transaction of $363,050.00. Following the completion of the transaction, the executive vice president now directly owns 35,840 shares in the company, valued at $2,602,342.40. This represents a 12.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Hanley Ronald P. O sold 14,299 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $72.10, for a total transaction of $1,030,957.90. Following the transaction, the director now owns 38,819 shares of the company’s stock, valued at approximately $2,798,849.90. This represents a 26.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 98,164 shares of company stock valued at $7,346,040. Company insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Unum Group

A number of large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Unum Group by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,552,252 shares of the financial services provider’s stock worth $405,481,000 after buying an additional 51,744 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Unum Group by 23.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,462,917 shares of the financial services provider’s stock valued at $106,837,000 after purchasing an additional 276,655 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of Unum Group by 44.9% in the 4th quarter. Allianz Asset Management GmbH now owns 1,264,994 shares of the financial services provider’s stock valued at $92,383,000 after purchasing an additional 392,191 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of Unum Group by 151.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 509,702 shares of the financial services provider’s stock valued at $30,297,000 after purchasing an additional 307,175 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of Unum Group by 50.0% in the 3rd quarter. Franklin Resources Inc. now owns 469,342 shares of the financial services provider’s stock valued at $29,554,000 after purchasing an additional 156,380 shares during the period. 86.57% of the stock is currently 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.