Unum Group (NYSE:UNM) Price Target Raised to $84.00

Unum Group (NYSE:UNM) had its price objective raised by stock analysts at Morgan Stanley from $80.00 to $84.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 3.59% from the stock’s previous close.

UNM has been the subject of several other reports. Barclays boosted their price target on Unum Group from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. StockNews.com downgraded shares of Unum Group from a “buy” rating to a “hold” rating in a report on Monday. BMO Capital Markets assumed coverage on shares of Unum Group in a report on Thursday, January 23rd. They issued an “outperform” rating and a $91.00 price target on the stock. Piper Sandler lifted their price objective on shares of Unum Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Truist Financial increased their target price on shares of Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Unum Group has a consensus rating of “Moderate Buy” and an average price target of $83.92.

Unum Group Trading Down 0.8 %

UNM traded down $0.63 during trading on Friday, hitting $81.09. 670,087 shares of the stock were exchanged, compared to its average volume of 1,155,979. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.29. The firm has a 50 day simple moving average of $74.73 and a 200 day simple moving average of $67.43. The firm has a market cap of $14.81 billion, a price-to-earnings ratio of 8.54, a P/E/G ratio of 1.14 and a beta of 0.80. Unum Group has a 1 year low of $48.38 and a 1 year high of $83.96.

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

Unum Group declared that its board has initiated a stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Unum Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barrett & Company Inc. raised its position in Unum Group by 300.0% during the 4th quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock worth $29,000 after buying an additional 297 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Unum Group in the third quarter worth $31,000. Kestra Investment Management LLC purchased a new position in shares of Unum Group during the fourth quarter worth $38,000. Millstone Evans Group LLC acquired a new position in Unum Group during the fourth quarter valued at $45,000. Finally, Quarry LP boosted its holdings in Unum Group by 4,794.7% in the third quarter. Quarry LP now owns 930 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 911 shares during the last quarter. 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.