Unum Group (NYSE:UNM) Price Target Raised to $71.00

Unum Group (NYSE:UNM) had its price target hoisted by Wells Fargo & Company from $69.00 to $71.00 in a research report report published on Thursday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

Other analysts have also issued research reports about the company. Jefferies Financial Group upped their target price on Unum Group from $63.00 to $64.00 and gave the company a buy rating in a report on Wednesday, July 10th. Truist Financial lifted their target price on shares of Unum Group from $62.00 to $70.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Evercore ISI upped their price target on shares of Unum Group from $56.00 to $58.00 and gave the company an in-line rating in a report on Wednesday, June 26th. Citigroup raised their price objective on shares of Unum Group from $62.00 to $69.00 and gave the stock a buy rating in a research note on Tuesday, July 23rd. Finally, Barclays reduced their target price on Unum Group from $73.00 to $72.00 and set an overweight rating on the stock in a research note on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $63.64.

Unum Group Stock Performance

Shares of UNM opened at $62.73 on Thursday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.33. Unum Group has a 52-week low of $41.75 and a 52-week high of $63.25. The company has a 50-day simple moving average of $56.15 and a 200-day simple moving average of $53.50. The company has a market capitalization of $11.65 billion, a PE ratio of 9.23, a P/E/G ratio of 0.91 and a beta of 0.77.

Unum Group (NYSE:UNM) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.14. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company posted $2.06 earnings per share. Equities research analysts predict that Unum Group will post 8.49 earnings per share for the current fiscal year.

Unum Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.68%. Unum Group’s dividend payout ratio (DPR) is 24.71%.

Unum Group announced that its board has approved a share repurchase program on Tuesday, July 30th that permits the company to buyback $1.00 billion in 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 generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Unum Group

In other Unum Group news, CEO Richard P. Mckenney sold 67,795 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 1,065,868 shares in the company, valued at $58,601,422.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Timothy Gerald Arnold sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were 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 in the company, valued at approximately $3,507,464.31. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard P. Mckenney sold 67,795 shares of the business’s 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 sale, the chief executive officer now directly owns 1,065,868 shares of the company’s stock, valued at approximately $58,601,422.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

Institutional Trading of Unum Group

Several institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc boosted its position in Unum Group by 361.5% during the 2nd quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 394 shares during the period. V Square Quantitative Management LLC purchased a new position in Unum Group during the second quarter valued at approximately $26,000. Salomon & Ludwin LLC purchased a new position in shares of Unum Group during the 1st quarter valued at $28,000. 1620 Investment Advisors Inc. acquired a new position in Unum Group in the 2nd quarter worth about $29,000. Finally, MCF Advisors LLC acquired a new position in Unum Group in the first quarter worth approximately $35,000. 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.