Unum Group (NYSE:UNM) Upgraded by UBS Group to Hold

Unum Group (NYSE:UNM) was upgraded by research analysts at UBS Group to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

A number of other equities research analysts have also recently weighed in on UNM. Bank of America boosted their price target on shares of Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. decreased their target price on Unum Group from $65.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Citigroup lifted their price target on Unum Group from $62.00 to $69.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Piper Sandler reissued an “overweight” rating and issued a $66.00 price objective (up from $64.00) on shares of Unum Group in a report on Friday, September 27th. Finally, Barclays cut their target price on shares of Unum Group from $73.00 to $72.00 and set an “overweight” rating on the stock in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.64.

Unum Group Trading Up 0.0 %

NYSE UNM opened at $61.68 on Wednesday. Unum Group has a 52 week low of $41.75 and a 52 week high of $62.21. The firm has a 50 day moving average of $55.98 and a two-hundred day moving average of $53.43. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $11.46 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 0.91 and a beta of 0.77.

Unum Group (NYSE:UNM) last posted its earnings results on Tuesday, July 30th. The financial services provider reported $2.16 EPS for the quarter, beating the consensus estimate of $2.02 by $0.14. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the prior year, the company posted $2.06 earnings per share. Unum Group’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, research analysts expect that Unum Group will post 8.47 EPS for the current fiscal year.

Unum Group declared that its Board of Directors has initiated a share repurchase program on Tuesday, July 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 10% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Unum Group

In other Unum Group news, 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 sale, the executive vice president now owns 64,821 shares of the company’s stock, valued at approximately $3,507,464.31. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $54.98, for a total value of $3,727,369.10. Following the completion of the transaction, the chief executive officer now owns 1,065,868 shares in the company, valued at $58,601,422.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total transaction of $541,100.00. Following the completion of the sale, the executive vice president now owns 64,821 shares of the company’s stock, valued at $3,507,464.31. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Unum Group by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 20,590,655 shares of the financial services provider’s stock worth $931,109,000 after buying an additional 300,840 shares during the last quarter. Nordea Investment Management AB increased its holdings in Unum Group by 51.7% during the 1st quarter. Nordea Investment Management AB now owns 2,961,539 shares of the financial services provider’s stock valued at $158,590,000 after acquiring an additional 1,008,776 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Unum Group by 16.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,017,367 shares of the financial services provider’s stock worth $91,225,000 after acquiring an additional 291,757 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Unum Group by 89.8% in the second quarter. ProShare Advisors LLC now owns 1,207,756 shares of the financial services provider’s stock valued at $61,728,000 after purchasing an additional 571,436 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Unum Group by 62.9% in the second quarter. Victory Capital Management Inc. now owns 1,119,870 shares of the financial services provider’s stock valued at $57,237,000 after purchasing an additional 432,240 shares during the last quarter. 86.57% of the stock is owned by hedge funds and other institutional investors.

Unum Group Company Profile

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.