Unum Group (NYSE:UNM) Price Target Raised to $58.00

Unum Group (NYSE:UNM) had its price objective upped by Evercore ISI from $56.00 to $58.00 in a research note published on Wednesday, Benzinga reports. They currently have an in-line rating on the financial services provider’s stock.

A number of other brokerages have also recently commented on UNM. JPMorgan Chase & Co. upped their target price on shares of Unum Group from $56.00 to $58.00 and gave the company an overweight rating in a report on Tuesday, April 2nd. Wells Fargo & Company increased their price objective on shares of Unum Group from $64.00 to $66.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. Morgan Stanley raised their target price on shares of Unum Group from $50.00 to $52.00 and gave the company an equal weight rating in a research note on Monday, April 15th. Finally, Truist Financial raised their target price on shares of Unum Group from $57.00 to $62.00 and gave the company a buy rating in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $57.89.

Unum Group Trading Up 0.7 %

Shares of NYSE UNM opened at $51.09 on Wednesday. The firm’s 50 day moving average price is $51.66 and its 200-day moving average price is $49.69. The company has a market cap of $9.68 billion, a PE ratio of 7.59, a P/E/G ratio of 1.07 and a beta of 0.83. Unum Group has a 52-week low of $41.75 and a 52-week high of $54.57. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.28 and a current ratio of 0.28.

Unum Group (NYSE:UNM) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.15. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.20 billion. Unum Group had a net margin of 10.52% and a return on equity of 16.02%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.87 earnings per share. On average, equities research analysts expect that Unum Group will post 8.24 EPS for the current fiscal year.

Unum Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, April 26th were issued a $0.365 dividend. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $1.46 annualized dividend and a dividend yield of 2.86%. Unum Group’s dividend payout ratio (DPR) is presently 21.69%.

Insider Transactions at Unum Group

In other news, EVP Christopher W. Pyne sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $52.47, for a total value of $236,115.00. Following the completion of the sale, the executive vice president now owns 56,262 shares in the company, valued at approximately $2,952,067.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Christopher W. Pyne sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $52.47, for a total value of $236,115.00. Following the completion of the sale, the executive vice president now owns 56,262 shares in the company, valued at approximately $2,952,067.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy F. Keaney sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $52.61, for a total transaction of $420,880.00. Following the completion of the sale, the director now owns 37,505 shares of the company’s stock, valued at approximately $1,973,138.05. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Keynote Financial Services LLC purchased a new position in Unum Group in the 1st quarter worth about $1,061,000. DekaBank Deutsche Girozentrale increased its position in Unum Group by 57.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 250,712 shares of the financial services provider’s stock valued at $13,392,000 after purchasing an additional 91,026 shares during the period. Pathway Financial Advisers LLC purchased a new position in Unum Group during the 1st quarter valued at about $74,000. Cetera Advisors LLC purchased a new position in Unum Group during the 1st quarter valued at about $703,000. Finally, Cetera Investment Advisers increased its position in Unum Group by 33.9% during the 1st quarter. Cetera Investment Advisers now owns 32,989 shares of the financial services provider’s stock valued at $1,770,000 after purchasing an additional 8,359 shares during the period. 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.