Unum Group (NYSE:UNM) Sets New 1-Year High – Should You Buy?

Unum Group (NYSE:UNM)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $77.65 and last traded at $77.40, with a volume of 249321 shares changing hands. The stock had previously closed at $75.96.

Analyst Ratings Changes

A number of analysts have commented on the stock. Piper Sandler boosted their price target on shares of Unum Group from $74.00 to $82.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. BMO Capital Markets assumed coverage on Unum Group in a research report on Thursday, January 23rd. They issued an “outperform” rating and a $91.00 target price for the company. Jefferies Financial Group lifted their price target on Unum Group from $91.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Wells Fargo & Company boosted their price objective on Unum Group from $74.00 to $81.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 14th. Finally, Barclays raised their target price on Unum Group from $76.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $76.75.

Unum Group Stock Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market capitalization of $13.92 billion, a PE ratio of 8.25, a P/E/G ratio of 1.09 and a beta of 0.81. The firm has a fifty day moving average price of $74.22 and a 200 day moving average price of $64.36.

Unum Group (NYSE:UNM) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the firm earned $1.94 earnings per share. The business’s quarterly revenue was up 4.0% on a year-over-year basis. Research analysts anticipate that Unum Group will post 8.54 earnings per share for the current fiscal year.

Unum Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 24th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, January 24th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.20%. Unum Group’s dividend payout ratio is currently 18.18%.

Insider Buying and Selling

In other news, EVP Timothy Gerald Arnold sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $76.92, for a total value of $769,200.00. Following the transaction, the executive vice president now owns 54,827 shares in the company, valued at $4,217,292.84. This represents a 15.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christopher W. Pyne sold 3,250 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $70.02, for a total transaction of $227,565.00. Following the sale, the executive vice president now owns 50,762 shares of the company’s stock, valued at approximately $3,554,355.24. This represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,914 shares of company stock valued at $7,677,945. Company insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in UNM. Convergence Investment Partners LLC increased its position in Unum Group by 10.3% in the 4th quarter. Convergence Investment Partners LLC now owns 17,737 shares of the financial services provider’s stock worth $1,295,000 after purchasing an additional 1,661 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Unum Group in the fourth quarter valued at approximately $675,000. Kestra Investment Management LLC acquired a new position in Unum Group during the 4th quarter worth $38,000. Atria Wealth Solutions Inc. acquired a new position in shares of Unum Group during the 4th quarter worth about $230,000. Finally, Venturi Wealth Management LLC grew its holdings in Unum Group by 30.0% in the 4th quarter. Venturi Wealth Management LLC now owns 1,206 shares of the financial services provider’s stock valued at $88,000 after buying an additional 278 shares during 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.