Unum Group (NYSE:UNM) Price Target Raised to $74.00 at Barclays

Unum Group (NYSE:UNM - Free Report) had its price objective lifted by Barclays from $72.00 to $74.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the financial services provider's stock.

UNM has been the topic of a number of other research reports. Bank of America upped their target price on shares of Unum Group from $54.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, October 10th. Wells Fargo & Company increased their target price on Unum Group from $69.00 to $71.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. Piper Sandler reiterated an "overweight" rating and issued a $66.00 price target (up from $64.00) on shares of Unum Group in a report on Friday, September 27th. UBS Group raised shares of Unum Group to a "hold" rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Unum Group from $65.00 to $63.00 and set an "overweight" rating for the company in a research note on Thursday, October 3rd. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Unum Group has an average rating of "Moderate Buy" and an average price target of $65.64.

Unum Group Stock Up 4.4 %

NYSE UNM traded up $2.74 during mid-day trading on Wednesday, reaching $64.37. 3,448,906 shares of the company's stock traded hands, compared to its average volume of 1,241,901. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.33. Unum Group has a 1-year low of $41.75 and a 1-year high of $64.91. The company has a fifty day simple moving average of $58.40 and a 200-day simple moving average of $54.37. The company has a market cap of $12.19 billion, a price-to-earnings ratio of 9.55, a P/E/G ratio of 0.91 and a beta of 0.77.

Unum Group (NYSE:UNM - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share for the quarter, topping analysts' consensus estimates of $2.09 by $0.04. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.26 billion. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The business's quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.94 earnings per share. As a group, equities research analysts expect that Unum Group will post 8.49 EPS for the current year.

Unum Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 25th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, October 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.61%. Unum Group's dividend payout ratio (DPR) is presently 24.96%.

Unum Group announced that its Board of Directors has approved a stock buyback program on Tuesday, July 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 10% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Unum Group

In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of the business's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $54.11, for a total value of $541,100.00. Following the transaction, the executive vice president now owns 64,821 shares in the company, valued at $3,507,464.31. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Unum Group news, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $54.98, for a total transaction of $3,727,369.10. Following the transaction, the chief executive officer now directly owns 1,065,868 shares of the company's stock, valued at $58,601,422.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the business's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $54.11, for a total value of $541,100.00. Following the completion of the sale, the executive vice president now directly owns 64,821 shares of the company's stock, valued at $3,507,464.31. This 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 and other institutional investors have recently bought and sold shares of the company. Nordea Investment Management AB grew its holdings in Unum Group by 51.7% in 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 buying an additional 1,008,776 shares during the last quarter. ProShare Advisors LLC increased its position in Unum Group by 89.8% during the second quarter. ProShare Advisors LLC now owns 1,207,756 shares of the financial services provider's stock worth $61,728,000 after acquiring an additional 571,436 shares during the period. Victory Capital Management Inc. raised its stake in Unum Group by 62.9% during the 2nd 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. Wedge Capital Management L L P NC boosted its holdings in Unum Group by 8.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 872,808 shares of the financial services provider's stock valued at $44,609,000 after purchasing an additional 64,661 shares during the period. Finally, Sei Investments Co. grew its position in Unum Group by 9.5% in the 2nd quarter. Sei Investments Co. now owns 413,350 shares of the financial services provider's stock worth $21,127,000 after purchasing an additional 35,723 shares during the last quarter. 86.57% of the stock is currently owned by institutional investors and hedge funds.

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.