Unum Group (NYSE:UNM) Rating Increased to Outperform at Evercore ISI

Unum Group (NYSE:UNM) was upgraded by equities research analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research note issued on Thursday,Briefing.com Automated Import reports. The brokerage currently has a $84.00 price objective on the financial services provider’s stock, up from their prior price objective of $67.00. Evercore ISI’s price target would indicate a potential upside of 18.25% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Citigroup raised their price target on shares of Unum Group from $62.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Wells Fargo & Company raised their price target on shares of Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. cut their price target on shares of Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Morgan Stanley raised their price target on shares of Unum Group from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Piper Sandler reissued an “overweight” rating and issued a $66.00 price target (up previously from $64.00) on shares of Unum Group in a report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.73.

Unum Group Price Performance

UNM stock opened at $71.04 on Thursday. 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 $41.86 and a 52 week high of $71.44. The firm’s fifty day moving average is $61.20 and its 200 day moving average is $55.62. The firm has a market cap of $12.97 billion, a P/E ratio of 7.69, a P/E/G ratio of 1.05 and a beta of 0.76.

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

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

Insider Activity at Unum Group

In related news, CEO Richard P. Mckenney sold 67,795 shares of Unum Group 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 completion of the transaction, the chief executive officer now directly owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Unum Group news, CAO Walter Lynn Rice, Jr. sold 1,500 shares of Unum Group stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $69.56, for a total value of $104,340.00. Following the completion of the transaction, the chief accounting officer now directly owns 8,361 shares of the company’s stock, valued at approximately $581,591.16. 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 accessible through this link. Also, CEO Richard P. Mckenney sold 67,795 shares of Unum Group 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 completion of the transaction, the chief executive officer now directly owns 1,065,868 shares of the company’s stock, valued at $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. Insiders sold a total of 77,545 shares of company stock valued at $4,380,074 in the last three months. Company insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. CIBC Asset Management Inc raised its holdings in shares of Unum Group by 3.4% during the third quarter. CIBC Asset Management Inc now owns 5,551 shares of the financial services provider’s stock valued at $330,000 after purchasing an additional 180 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Unum Group by 38.2% during the third quarter. V Square Quantitative Management LLC now owns 702 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 194 shares during the last quarter. Brooklyn Investment Group raised its holdings in shares of Unum Group by 3.1% during the third quarter. Brooklyn Investment Group now owns 6,592 shares of the financial services provider’s stock valued at $392,000 after purchasing an additional 197 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Unum Group by 2.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 10,126 shares of the financial services provider’s stock valued at $518,000 after purchasing an additional 217 shares during the last quarter. Finally, Caprock Group LLC raised its holdings in shares of Unum Group by 1.8% during the third quarter. Caprock Group LLC now owns 12,308 shares of the financial services provider’s stock valued at $732,000 after purchasing an additional 221 shares during the last quarter. 86.57% of the stock is owned by hedge funds and other institutional investors.

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.