Evercore ISI Forecasts Strong Price Appreciation for Unum Group (NYSE:UNM) Stock

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

Several other research firms have also issued reports on UNM. JPMorgan Chase & Co. reduced their target price on shares of Unum Group from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Jefferies Financial Group lifted their target price 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. Truist Financial increased their price target on Unum Group from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. UBS Group upgraded Unum Group to a “hold” rating in a research report on Wednesday, October 9th. Finally, Citigroup lifted their target price on Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $66.09.

Unum Group Price Performance

Shares of UNM opened at $64.12 on Wednesday. The firm has a market cap of $11.71 billion, a PE ratio of 6.94, a P/E/G ratio of 0.94 and a beta of 0.76. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The firm has a fifty day simple moving average of $59.01 and a two-hundred day simple moving average of $54.61. Unum Group has a 1-year low of $41.75 and a 1-year high of $64.91.

Unum Group (NYSE:UNM) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period last year, the firm earned $1.94 EPS. Unum Group’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Unum Group will post 8.52 EPS for the current year.

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

Unum Group Announces Dividend

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 paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Friday, October 25th. Unum Group’s payout ratio is 18.18%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Unum Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc lifted its stake in Unum Group by 361.5% in the second quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 394 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Unum Group during the 2nd quarter worth approximately $26,000. Salomon & Ludwin LLC purchased a new position in Unum Group during the 1st quarter valued at $28,000. 1620 Investment Advisors Inc. bought a new position in Unum Group in the 2nd quarter valued at $29,000. Finally, Capital Performance Advisors LLP purchased a new stake in Unum Group in the third quarter worth $31,000. 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.