Piper Sandler Issues Positive Forecast for Unum Group (NYSE:UNM) Stock Price

Unum Group (NYSE:UNM) had its price objective boosted by Piper Sandler from $74.00 to $82.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other equities research analysts also recently commented on UNM. Bank of America lifted their price target on shares of Unum Group from $54.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Jefferies Financial Group lifted their target price on shares of Unum Group from $91.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. UBS Group upgraded Unum Group to a “hold” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price objective on Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Finally, Wells Fargo & Company upped their target price on Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.09.

Unum Group Price Performance

UNM stock opened at $71.51 on Wednesday. The stock’s 50 day moving average price is $69.70 and its 200 day moving average price is $59.46. The firm has a market cap of $13.06 billion, a P/E ratio of 7.74, a PEG ratio of 1.06 and a beta of 0.79. 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 1 year low of $44.32 and a 1 year high of $77.63.

Unum Group (NYSE:UNM) last issued its quarterly earnings data 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 business 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 business’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.94 earnings per share. On average, sell-side analysts expect that Unum Group will post 8.54 earnings per share for the current fiscal year.

Unum Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 25th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.35%. Unum Group’s dividend payout ratio (DPR) is 18.18%.

Insider Activity

In other news, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were 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 of the company’s stock, valued at approximately $581,591.16. This trade represents a 15.21 % decrease in their position. 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 company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $64.16, for a total transaction of $320,800.00. Following the sale, the executive vice president now directly owns 58,741 shares of the company’s stock, valued at approximately $3,768,822.56. This trade represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 107,914 shares of company stock valued at $7,998,745 in the last three months. Corporate insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP acquired a new stake in shares of Unum Group in the third quarter valued at about $31,000. 1620 Investment Advisors Inc. purchased a new position in Unum Group in the 2nd quarter worth approximately $29,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Unum Group in the third quarter valued at approximately $37,000. V Square Quantitative Management LLC raised its stake 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 period. Finally, Innealta Capital LLC purchased a new stake in shares of Unum Group during the second quarter valued at approximately $40,000. 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.