Unum Group (NYSE:UNM) Price Target Raised to $87.00 at Piper Sandler

Unum Group (NYSE:UNM) had its target price lifted by Piper Sandler from $82.00 to $87.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Other research analysts have also issued reports about the stock. Morgan Stanley raised their target price on shares of Unum Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Truist Financial boosted their target price on shares of Unum Group from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company upped their target price on shares of Unum Group from $74.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday, January 14th. BMO Capital Markets started coverage on Unum Group in a research report on Thursday, January 23rd. They issued an “outperform” rating and a $91.00 price target for the company. Finally, Bank of America upped their price objective on Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Unum Group has a consensus rating of “Moderate Buy” and a consensus target price of $79.45.

Unum Group Stock Down 1.4 %

Shares of UNM stock opened at $76.62 on Thursday. The company’s fifty day simple moving average is $74.24 and its two-hundred day simple moving average is $65.08. Unum Group has a 52 week low of $46.64 and a 52 week high of $79.43. The stock has a market cap of $13.99 billion, a P/E ratio of 8.29, a PEG ratio of 1.08 and a beta of 0.80. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM) last posted its earnings results 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 15.21% and a net margin of 13.76%. Analysts predict that Unum Group will post 8.54 EPS for the current fiscal year.

Unum Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 24th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Friday, January 24th. Unum Group’s dividend payout ratio is currently 18.18%.

Insider Activity at Unum Group

In other news, EVP Lisa G. Iglesias sold 5,000 shares of Unum Group stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $72.61, for a total transaction of $363,050.00. Following the completion of the sale, the executive vice president now directly owns 35,840 shares in the company, valued at approximately $2,602,342.40. This trade represents a 12.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $769,200.00. Following the completion of the transaction, the executive vice president now owns 54,827 shares in the company, valued at approximately $4,217,292.84. The trade was a 15.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 98,164 shares of company stock worth $7,346,040 in the last quarter. 0.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On Unum Group

A number of institutional investors have recently modified their holdings of UNM. Allianz Asset Management GmbH grew its stake in Unum Group by 44.9% in the fourth quarter. Allianz Asset Management GmbH now owns 1,264,994 shares of the financial services provider’s stock worth $92,383,000 after purchasing an additional 392,191 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in Unum Group by 151.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 509,702 shares of the financial services provider’s stock valued at $30,297,000 after purchasing an additional 307,175 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Unum Group by 23.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,462,917 shares of the financial services provider’s stock worth $106,837,000 after buying an additional 276,655 shares during the period. Raymond James Financial Inc. bought a new position in shares of Unum Group during the 4th quarter worth $19,617,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Unum Group during the fourth quarter valued at $11,456,000. 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.