Unum Group (NYSE:UNM) Price Target Raised to $66.00 at Evercore ISI

Unum Group (NYSE:UNM) had its price objective lifted by Evercore ISI from $59.00 to $66.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has an in-line rating on the financial services provider’s stock.

Several other research firms also recently weighed in on UNM. Jefferies Financial Group lifted their price target on shares of Unum Group from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Piper Sandler reaffirmed an “overweight” rating and set a $66.00 price target (up from $64.00) on shares of Unum Group in a research note on Friday, September 27th. Wells Fargo & Company raised their price objective on Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Barclays cut their target price on Unum Group from $73.00 to $72.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.64.

Unum Group Stock Up 4.4 %

Shares of Unum Group stock opened at $64.37 on Wednesday. The stock’s 50-day moving average is $58.40 and its 200 day moving average is $54.37. Unum Group has a one year low of $41.75 and a one year high of $64.91. The firm has a market cap of $12.19 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 0.91 and a beta of 0.77. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.28 and a quick ratio of 0.28.

Unum Group (NYSE:UNM) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.04. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.94 EPS. Equities research analysts anticipate that Unum Group will post 8.49 EPS for the current year.

Unum Group declared that its board has approved a stock buyback program on Tuesday, July 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 10% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Unum Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Friday, October 25th. Unum Group’s payout ratio is 24.96%.

Insider Transactions at Unum Group

In related news, EVP Timothy Gerald Arnold sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $54.11, for a total transaction of $541,100.00. Following the completion of the sale, the executive vice president now directly owns 64,821 shares of the company’s stock, valued at approximately $3,507,464.31. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Unum Group news, CEO Richard P. Mckenney sold 67,795 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were 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 directly owns 1,065,868 shares in the company, valued at $58,601,422.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total transaction of $541,100.00. Following the transaction, the executive vice president now directly owns 64,821 shares of the company’s stock, valued at $3,507,464.31. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Unum Group

Several institutional investors have recently bought and sold shares of UNM. V Square Quantitative Management LLC raised its stake 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 buying an additional 194 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in Unum Group by 2.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 10,126 shares of the financial services provider’s stock valued at $518,000 after acquiring an additional 217 shares during the period. Global Retirement Partners LLC raised its stake in Unum Group by 2.8% in the 3rd quarter. Global Retirement Partners LLC now owns 8,292 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 224 shares during the period. QRG Capital Management Inc. lifted its holdings in Unum Group by 1.8% during the second quarter. QRG Capital Management Inc. now owns 12,786 shares of the financial services provider’s stock valued at $654,000 after purchasing an additional 226 shares during the last quarter. Finally, FinTrust Capital Advisors LLC boosted its position in Unum Group by 20.4% during the first quarter. FinTrust Capital Advisors LLC now owns 1,457 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 247 shares during the period. Hedge funds and other 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.