Unum Group (NYSE:UNM) Given New $85.00 Price Target at Barclays

Unum Group (NYSE:UNM) had its target price lifted by analysts at Barclays from $76.00 to $85.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective would indicate a potential upside of 15.93% from the stock’s current price.

Other analysts have also recently issued reports about the stock. UBS Group upgraded shares of Unum Group to a “hold” rating in a research note on Wednesday, October 9th. Piper Sandler upped their price target on shares of Unum Group from $74.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. dropped their price objective on Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Bank of America raised their target price on Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company upped their price objective on shares of Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $73.09.

Unum Group Stock Up 0.3 %

Shares of UNM traded up $0.22 during mid-day trading on Monday, reaching $73.32. 305,744 shares of the stock traded hands, compared to its average volume of 862,467. The stock has a fifty day simple moving average of $72.04 and a 200 day simple moving average of $61.32. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. The firm has a market cap of $13.39 billion, a price-to-earnings ratio of 7.94, a P/E/G ratio of 1.06 and a beta of 0.81. Unum Group has a 12-month low of $44.83 and a 12-month high of $77.63.

Unum Group (NYSE:UNM) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates 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 for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.94 EPS. Sell-side analysts expect that Unum Group will post 8.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $69.56, for a total transaction of $104,340.00. Following the completion of the sale, the chief accounting officer now directly owns 8,361 shares of the company’s stock, valued at $581,591.16. The trade was a 15.21 % decrease in their ownership of the stock. The transaction 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 stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $64.16, for a total value of $320,800.00. Following the completion of 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. Over the last 90 days, insiders sold 107,914 shares of company stock valued at $7,998,745. 0.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Natixis Advisors LLC lifted its position in shares of Unum Group by 3.3% during the 2nd quarter. Natixis Advisors LLC now owns 27,296 shares of the financial services provider’s stock valued at $1,395,000 after buying an additional 873 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Unum Group by 62.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,119,870 shares of the financial services provider’s stock worth $57,237,000 after acquiring an additional 432,240 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Unum Group by 1.5% in the 2nd quarter. Private Advisor Group LLC now owns 29,481 shares of the financial services provider’s stock valued at $1,507,000 after purchasing an additional 437 shares in the last quarter. Savant Capital LLC grew its holdings in shares of Unum Group by 1.6% during the 2nd quarter. Savant Capital LLC now owns 41,714 shares of the financial services provider’s stock valued at $2,132,000 after purchasing an additional 675 shares during the last quarter. Finally, Caprock Group LLC raised its position in Unum Group by 79.7% in the 2nd quarter. Caprock Group LLC now owns 12,087 shares of the financial services provider’s stock worth $618,000 after purchasing an additional 5,362 shares during the period. 86.57% of the stock is currently 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.