Unum Group (NYSE:UNM) Receives Average Rating of “Moderate Buy” from Brokerages

Unum Group (NYSE:UNM) has earned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $63.80.

UNM has been the subject of a number of recent research reports. Barclays began coverage on shares of Unum Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $73.00 price objective for the company. Piper Sandler restated an “overweight” rating and set a $66.00 price target (up previously from $64.00) on shares of Unum Group in a research note on Friday. JPMorgan Chase & Co. lifted their price objective on Unum Group from $64.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Truist Financial raised their target price on Unum Group from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Jefferies Financial Group upped their price target on Unum Group from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th.

Unum Group Stock Performance

NYSE UNM opened at $58.65 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.28 and a quick ratio of 0.28. The company’s fifty day moving average is $54.90 and its two-hundred day moving average is $52.91. Unum Group has a 52-week low of $41.75 and a 52-week high of $59.01. The firm has a market capitalization of $10.90 billion, a price-to-earnings ratio of 8.71, a P/E/G ratio of 0.85 and a beta of 0.77.

Unum Group (NYSE:UNM) last announced its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.14. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.23 billion. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. Unum Group’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.06 EPS. Equities research analysts forecast that Unum Group will post 8.48 EPS for the current year.

Unum Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, July 26th were given a dividend of $0.42 per share. This is an increase from Unum Group’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 2.86%. Unum Group’s dividend payout ratio is 24.96%.

Unum Group declared that its board has authorized a stock repurchase program on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 10% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Unum Group

In related news, CEO Richard P. Mckenney sold 67,795 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $54.98, for a total value of $3,727,369.10. Following the transaction, the chief executive officer now owns 1,065,868 shares in the company, valued at $58,601,422.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Unum Group news, CEO Richard P. Mckenney sold 67,795 shares of the company’s 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 transaction, the chief executive officer now directly owns 1,065,868 shares in the company, valued at approximately $58,601,422.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total transaction of $541,100.00. Following the completion of the transaction, the executive vice president now directly owns 64,821 shares in the company, valued at approximately $3,507,464.31. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Quadrature Capital Ltd acquired a new position in Unum Group in the first quarter valued at about $1,130,000. Boone Capital Management LLC boosted its stake in Unum Group by 10.8% during the 4th quarter. Boone Capital Management LLC now owns 961,661 shares of the financial services provider’s stock worth $43,486,000 after acquiring an additional 94,096 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in Unum Group by 3.6% during the fourth quarter. Allianz Asset Management GmbH now owns 950,914 shares of the financial services provider’s stock valued at $43,000,000 after purchasing an additional 33,454 shares during the period. First Trust Advisors LP increased its stake in Unum Group by 43.0% in the fourth quarter. First Trust Advisors LP now owns 973,480 shares of the financial services provider’s stock valued at $44,021,000 after purchasing an additional 292,917 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in Unum Group by 80.7% in the first quarter. Tidal Investments LLC now owns 64,008 shares of the financial services provider’s stock worth $3,436,000 after purchasing an additional 28,580 shares during the period. Institutional investors and hedge funds 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.