Truist Financial Issues Positive Forecast for Unum Group (NYSE:UNM) Stock Price

Unum Group (NYSE:UNM - Free Report) had its price target raised by Truist Financial from $70.00 to $75.00 in a report published on Friday, Benzinga reports. They currently have a buy rating on the financial services provider's stock.

A number of other equities analysts also recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Unum Group from $69.00 to $71.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. Bank of America boosted their price objective on Unum Group from $54.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, October 10th. Citigroup upped their target price on Unum Group from $62.00 to $69.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. Evercore ISI lifted their target price on Unum Group from $59.00 to $66.00 and gave the stock an "in-line" rating in a report on Wednesday. Finally, Morgan Stanley raised their price objective on shares of Unum Group from $62.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Unum Group currently has an average rating of "Moderate Buy" and an average price target of $66.09.

Unum Group Trading Down 0.1 %

NYSE:UNM traded down $0.06 during trading hours on Friday, hitting $64.12. 1,385,375 shares of the company were exchanged, compared to its average volume of 1,245,406. The stock has a market capitalization of $11.91 billion, a price-to-earnings ratio of 6.97, a price-to-earnings-growth ratio of 0.95 and a beta of 0.77. Unum Group has a one year low of $41.75 and a one year high of $64.91. The company has a fifty day simple moving average of $58.81 and a 200 day simple moving average of $54.51. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, topping analysts' consensus estimates of $2.10 by $0.03. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.26 billion. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The firm's quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.94 earnings per share. Sell-side analysts expect that Unum Group will post 8.5 EPS for the current fiscal year.

Unum Group announced that its board has approved a share repurchase plan on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.

Unum Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be paid 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 yield of 2.62%. Unum Group's dividend payout ratio (DPR) is currently 18.18%.

Insider Buying and Selling

In other Unum Group 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 sale, the chief executive officer now owns 1,065,868 shares in the company, valued at approximately $58,601,422.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Richard P. Mckenney sold 67,795 shares of the firm's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $54.98, for a total transaction 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 $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 the SEC website. Also, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group stock in a transaction 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 in the company, valued at $3,507,464.31. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of UNM. Versant Capital Management Inc increased its holdings in Unum Group by 361.5% in 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 last quarter. V Square Quantitative Management LLC purchased a new position in shares of Unum Group in the second quarter worth about $26,000. Salomon & Ludwin LLC bought a new stake in shares of Unum Group in the first quarter valued at approximately $28,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Unum Group during the 2nd quarter valued at approximately $29,000. Finally, Capital Performance Advisors LLP bought a new position in Unum Group in the 3rd quarter worth approximately $31,000. 86.57% of the stock is owned by institutional investors.

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.