Unum Group (NYSE:UNM) Board Announces Share Repurchase Plan

Unum Group (NYSE:UNM - Get Free Report) announced that its board has approved a stock repurchase program on Tuesday, February 18th, RTT News reports. The company plans to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 7.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.

Unum Group Stock Performance

NYSE:UNM traded down $0.72 during mid-day trading on Friday, hitting $74.07. 1,204,077 shares of the company traded hands, compared to its average volume of 1,129,832. The stock's fifty day moving average price is $74.28 and its 200-day moving average price is $66.75. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32. Unum Group has a one year low of $48.38 and a one year high of $79.43. The firm has a market cap of $13.53 billion, a price-to-earnings ratio of 7.82, a price-to-earnings-growth ratio of 1.14 and a beta of 0.80.

Unum Group (NYSE:UNM - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. Research analysts anticipate that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.68 annualized dividend and a dividend yield of 2.27%. Unum Group's payout ratio is 17.74%.

Analyst Ratings Changes

A number of analysts have recently issued reports on UNM shares. StockNews.com raised shares of Unum Group from a "hold" rating to a "buy" rating in a report on Friday, February 14th. Wells Fargo & Company raised their target price on shares of Unum Group from $81.00 to $91.00 and gave the stock an "overweight" rating in a report on Wednesday. Keefe, Bruyette & Woods lifted their target price on shares of Unum Group from $88.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Evercore ISI raised Unum Group from an "in-line" rating to an "outperform" rating and increased their price target for the company from $67.00 to $84.00 in a report on Thursday, November 14th. Finally, Truist Financial lifted their price objective on Unum Group from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $81.17.

Insider Activity at Unum Group

In related news, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $76.92, for a total transaction of $769,200.00. Following the sale, the executive vice president now owns 54,827 shares of the company's stock, valued at approximately $4,217,292.84. This trade represents a 15.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.93% of the stock is owned by corporate insiders.

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.