Brokerages Set Unum Group (NYSE:UNM) Target Price at $76.75

Unum Group (NYSE:UNM) has earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $76.75.

A number of research firms have issued reports on UNM. Morgan Stanley lifted their price objective on Unum Group from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Evercore ISI upgraded Unum Group from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $67.00 to $84.00 in a report on Thursday, November 14th. Wells Fargo & Company lifted their target price on Unum Group from $74.00 to $81.00 and gave the stock an “overweight” rating in a report on Tuesday, January 14th. BMO Capital Markets initiated coverage on Unum Group in a report on Thursday, January 23rd. They set an “outperform” rating and a $91.00 price objective for the company. Finally, Piper Sandler upped their target price on Unum Group from $74.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th.

Unum Group Stock Up 1.9 %

Shares of UNM opened at $77.41 on Friday. The business’s 50 day moving average is $74.19 and its 200 day moving average is $64.27. The company has a market capitalization of $14.14 billion, a PE ratio of 8.38, a price-to-earnings-growth ratio of 1.07 and a beta of 0.81. Unum Group has a 12-month low of $46.39 and a 12-month high of $77.65. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.03. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.26 billion. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $1.94 EPS. Research analysts expect 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 will be paid on Friday, February 14th. Investors of record on Friday, January 24th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.17%. The ex-dividend date is Friday, January 24th. Unum Group’s dividend payout ratio is currently 18.18%.

Insider Activity at Unum Group

In other news, EVP Christopher W. Pyne sold 3,250 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $70.02, for a total value of $227,565.00. Following the sale, the executive vice president now owns 50,762 shares in the company, valued at $3,554,355.24. This represents a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 8,361 shares in the company, valued at $581,591.16. This represents a 15.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,914 shares of company stock valued at $7,677,945 in the last ninety days. Corporate insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Unum Group

A number of hedge funds have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. raised its holdings in shares of Unum Group by 151.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 509,702 shares of the financial services provider’s stock valued at $30,297,000 after acquiring an additional 307,175 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Unum Group by 50.0% in the third 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 last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Unum Group by 183.5% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 170,100 shares of the financial services provider’s stock valued at $8,694,000 after purchasing an additional 110,100 shares during the last quarter. International Assets Investment Management LLC increased its stake in Unum Group by 5,844.0% during the third quarter. International Assets Investment Management LLC now owns 101,048 shares of the financial services provider’s stock worth $6,006,000 after acquiring an additional 99,348 shares during the last quarter. Finally, Algert Global LLC increased its stake in Unum Group by 69.5% during the third quarter. Algert Global LLC now owns 236,264 shares of the financial services provider’s stock worth $14,044,000 after acquiring an additional 96,916 shares during the last quarter. Hedge funds and other 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.