Unum Group (NYSE:UNM) Price Target Raised to $85.00

Unum Group (NYSE:UNM) had its price target upped by Barclays from $76.00 to $85.00 in a research note published on Monday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Piper Sandler increased their target price on Unum Group from $74.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Morgan Stanley increased their target price on Unum Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Truist Financial increased their target price on Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company increased their target price on Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Evercore ISI upgraded Unum Group from an “in-line” rating to an “outperform” rating and increased their target price for the company from $67.00 to $84.00 in a report on Thursday, November 14th. 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.55.

Unum Group Price Performance

Unum Group stock opened at $72.96 on Monday. Unum Group has a 52 week low of $44.83 and a 52 week high of $77.63. The business has a 50-day simple moving average of $72.50 and a 200 day simple moving average of $61.72. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. The stock has a market cap of $13.32 billion, a price-to-earnings ratio of 7.90, a PEG ratio of 1.06 and a beta of 0.81.

Unum Group (NYSE:UNM) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.10 by $0.03. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the previous year, the business earned $1.94 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. On average, research analysts forecast that Unum Group will post 8.54 earnings per share for the current fiscal year.

Unum Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 25th were paid a dividend of $0.42 per share. The ex-dividend date was Friday, October 25th. This represents a $1.68 annualized dividend and a yield of 2.30%. Unum Group’s dividend payout ratio is 18.18%.

Insider Buying and Selling

In related news, CAO Walter Lynn Rice, Jr. sold 1,500 shares of Unum Group stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $69.56, for a total value of $104,340.00. Following the completion of the sale, the chief accounting officer now owns 8,361 shares of the company’s stock, valued at $581,591.16. The trade was a 15.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Elizabeth Claire Ahmed sold 5,000 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $64.16, for a total value of $320,800.00. Following the sale, the executive vice president now directly owns 58,741 shares of the company’s stock, valued at $3,768,822.56. This represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 107,914 shares of company stock valued at $7,998,745 over the last 90 days. Company insiders own 0.93% of the company’s stock.

Institutional Trading of Unum Group

Hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new position in shares of Unum Group in the third quarter valued at about $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Unum Group in the third quarter valued at about $37,000. V Square Quantitative Management LLC lifted its position in shares of Unum Group by 38.2% in the third quarter. V Square Quantitative Management LLC now owns 702 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 194 shares in the last quarter. William B. Walkup & Associates Inc. purchased a new position in shares of Unum Group in the second quarter valued at about $44,000. Finally, Quarry LP lifted its position in shares of Unum Group by 4,794.7% in the third quarter. Quarry LP now owns 930 shares of the financial services provider’s stock worth $55,000 after buying an additional 911 shares in the last quarter. Institutional investors 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.