Morgan Stanley Issues Positive Forecast for Unum Group (NYSE:UNM) Stock Price

Unum Group (NYSE:UNM) had its target price boosted by Morgan Stanley from $80.00 to $84.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

A number of other brokerages also recently issued reports on UNM. Evercore ISI upgraded Unum Group from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $67.00 to $84.00 in a report on Thursday, November 14th. Keefe, Bruyette & Woods boosted their target price on shares of Unum Group from $90.00 to $103.00 and gave the company an “outperform” rating in a research note on Friday. BMO Capital Markets initiated coverage on shares of Unum Group in a report on Thursday, January 23rd. They issued an “outperform” rating and a $91.00 target price for the company. JPMorgan Chase & Co. reissued a “neutral” rating and set a $79.00 price objective (up previously from $74.00) on shares of Unum Group in a report on Tuesday, January 7th. Finally, StockNews.com lowered shares of Unum Group from a “buy” rating to a “hold” rating in a research report on Monday, February 24th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Unum Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.92.

Unum Group Trading Up 0.7 %

Shares of UNM stock opened at $82.27 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.29. Unum Group has a 52-week low of $48.38 and a 52-week high of $83.96. The company has a market capitalization of $15.02 billion, a PE ratio of 8.69, a price-to-earnings-growth ratio of 1.14 and a beta of 0.80. The business’s fifty day moving average is $74.73 and its 200 day moving average is $67.43.

Unum Group (NYSE:UNM) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. On average, equities research analysts anticipate that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 24th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Friday, January 24th. Unum Group’s dividend payout ratio is presently 17.74%.

Unum Group declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 7.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Unum Group

Several hedge funds have recently made changes to their positions in the company. Total Wealth Planning & Management Inc. purchased a new position in shares of Unum Group in the 4th quarter valued at about $2,189,000. Jefferies Financial Group Inc. purchased a new position in Unum Group during the 4th quarter valued at about $4,166,000. Sculati Wealth Management LLC grew its holdings in shares of Unum Group by 0.5% during the fourth quarter. Sculati Wealth Management LLC now owns 38,901 shares of the financial services provider’s stock worth $2,841,000 after buying an additional 200 shares in the last quarter. Leigh Baldwin & CO. LLC purchased a new stake in shares of Unum Group during the fourth quarter worth about $217,000. Finally, Challenger Wealth Management acquired a new stake in shares of Unum Group in the fourth quarter worth approximately $258,000. 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.