Unum Group (NYSE:UNM) Price Target Raised to $87.00 at JPMorgan Chase & Co.

Unum Group (NYSE:UNM) had its price objective hoisted by JPMorgan Chase & Co. from $81.00 to $87.00 in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets increased their price objective on Unum Group from $95.00 to $102.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Morgan Stanley raised their price target on shares of Unum Group from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. StockNews.com downgraded shares of Unum Group from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Wells Fargo & Company raised their target price on shares of Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Finally, Keefe, Bruyette & Woods increased their price target on Unum Group from $90.00 to $103.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Unum Group presently has an average rating of “Moderate Buy” and a consensus target price of $87.86.

Unum Group Stock Up 1.1 %

NYSE:UNM opened at $82.93 on Wednesday. Unum Group has a twelve month low of $48.38 and a twelve month high of $84.48. The firm has a market capitalization of $14.66 billion, a price-to-earnings ratio of 8.76, a price-to-earnings-growth ratio of 1.14 and a beta of 0.74. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32. The stock’s 50 day moving average price is $78.20 and its two-hundred day moving average price is $71.90.

Unum Group (NYSE:UNM) last issued its earnings results 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 13.81% and a return on equity of 14.91%. Equities research analysts expect that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group declared that its Board of Directors has approved a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 7.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Unum Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Friday, January 24th. Unum Group’s dividend payout ratio (DPR) is presently 17.74%.

Insider Buying and Selling at Unum Group

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

Hedge Funds Weigh In On Unum Group

A number of hedge funds have recently modified their holdings of the business. Barrett & Company Inc. raised its position in Unum Group by 300.0% during the 4th quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 297 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Unum Group in the fourth quarter worth approximately $38,000. Millstone Evans Group LLC acquired a new position in shares of Unum Group in the 4th quarter worth approximately $45,000. Quarry LP boosted its stake in shares of Unum Group by 4,794.7% in the 3rd quarter. Quarry LP now owns 930 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 911 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Unum Group by 26.4% during the fourth quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock worth $56,000 after buying an additional 160 shares during the period. Institutional investors and hedge funds own 86.57% of the company’s stock.

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.