Morgan Stanley Forecasts Strong Price Appreciation for Unum Group (NYSE:UNM) Stock

Unum Group (NYSE:UNM) had its target price upped by Morgan Stanley from $62.00 to $64.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Several other research firms also recently weighed in on UNM. Jefferies Financial Group lifted their target price on shares of Unum Group from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Evercore ISI boosted their target price on shares of Unum Group from $59.00 to $66.00 and gave the company an “in-line” rating in a report on Wednesday. Truist Financial raised their price target on Unum Group from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company boosted their price objective on Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Citigroup raised their target price on Unum Group from $62.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.09.

Unum Group Trading Down 0.1 %

NYSE:UNM opened at $64.12 on Wednesday. Unum Group has a 12 month low of $41.75 and a 12 month high of $64.91. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The firm’s 50 day moving average is $59.01 and its 200 day moving average is $54.61. The stock has a market capitalization of $11.71 billion, a PE ratio of 6.94, a price-to-earnings-growth ratio of 0.94 and a beta of 0.76.

Unum Group (NYSE:UNM) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the prior year, the firm earned $1.94 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. Sell-side analysts expect that Unum Group will post 8.52 earnings per share for the current year.

Unum Group Announces Dividend

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

Unum Group declared that its Board of Directors has authorized a share buyback plan on Tuesday, July 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 10% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Unum Group news, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 1,065,868 shares in the company, valued at $58,601,422.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group 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 transaction, the executive vice president now directly owns 64,821 shares of the company’s stock, valued at $3,507,464.31. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard P. Mckenney sold 67,795 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 1,065,868 shares of the company’s stock, valued at approximately $58,601,422.64. This trade represents a 0.00 % decrease in their ownership of the stock. 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 hedge funds and other institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc raised its holdings in shares of Unum Group by 361.5% during the second quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 394 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Unum Group in the 2nd quarter worth $26,000. Salomon & Ludwin LLC purchased a new stake in shares of Unum Group in the 1st quarter worth about $28,000. 1620 Investment Advisors Inc. bought a new stake in shares of Unum Group during the 2nd quarter valued at about $29,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Unum Group during the third quarter valued at about $31,000. Institutional investors 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.