Unum Group (NYSE:UNM) Price Target Raised to $92.00 at Piper Sandler

Unum Group (NYSE:UNM) had its price target hoisted by investment analysts at Piper Sandler from $87.00 to $92.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price target suggests a potential upside of 11.36% from the company’s previous close.

UNM has been the subject of a number of other research reports. Wells Fargo & Company upped their price target on Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Jefferies Financial Group lifted their price target on shares of Unum Group from $91.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. lifted their target price on Unum Group from $81.00 to $87.00 and gave the stock a “neutral” rating in a research report on Wednesday. Barclays increased their price target on Unum Group from $76.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, StockNews.com downgraded Unum Group from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.62.

Unum Group Trading Up 0.8 %

Shares of NYSE UNM traded up $0.62 during midday trading on Wednesday, hitting $82.62. The stock had a trading volume of 107,263 shares, compared to its average volume of 1,435,559. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32. Unum Group has a 1-year low of $48.38 and a 1-year high of $84.48. The company has a fifty day moving average price of $77.91 and a 200 day moving average price of $71.63. The company has a market capitalization of $14.60 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 1.14 and a beta of 0.74.

Unum Group (NYSE:UNM) last issued its quarterly earnings data 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 return on equity of 14.91% and a net margin of 13.81%. On average, analysts predict that Unum Group will post 9.14 earnings per share for the current year.

Unum Group announced that its Board of Directors has authorized a share repurchase program on Tuesday, February 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In related news, EVP Lisa G. Iglesias sold 7,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $82.75, for a total transaction of $579,250.00. Following the completion of the transaction, the executive vice president now owns 31,284 shares of the company’s stock, valued at $2,588,751. This trade represents a 18.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Richard P. Mckenney sold 50,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the completion of the sale, the chief executive officer now owns 980,637 shares in the company, valued at approximately $80,402,427.63. This trade represents a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

Institutional Trading of Unum Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Unum Group by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 20,497,586 shares of the financial services provider’s stock valued at $1,496,939,000 after acquiring an additional 1,596,078 shares during the period. Norges Bank purchased a new stake in shares of Unum Group in the fourth quarter valued at $1,003,918,000. Charles Schwab Investment Management Inc. boosted its position in shares of Unum Group by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,552,252 shares of the financial services provider’s stock worth $405,481,000 after buying an additional 51,744 shares during the period. Northern Trust Corp grew its holdings in shares of Unum Group by 33.2% during the fourth quarter. Northern Trust Corp now owns 1,930,349 shares of the financial services provider’s stock valued at $140,973,000 after buying an additional 480,926 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Unum Group by 15.4% in the 4th quarter. First Trust Advisors LP now owns 1,708,452 shares of the financial services provider’s stock worth $124,768,000 after acquiring an additional 227,644 shares in the last quarter. 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.