Keefe, Bruyette & Woods Has Lowered Expectations for Unum Group (NYSE:UNM) Stock Price

Unum Group (NYSE:UNM - Free Report) had its price target decreased by Keefe, Bruyette & Woods from $103.00 to $102.00 in a research report released on Wednesday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider's stock.

A number of other research firms have also weighed in on UNM. Jefferies Financial Group increased their price objective on shares of Unum Group from $91.00 to $96.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Wells Fargo & Company increased their price target on Unum Group from $81.00 to $91.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. Morgan Stanley upped their price objective on Unum Group from $80.00 to $84.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Barclays increased their target price on Unum Group from $76.00 to $85.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Finally, UBS Group upped their price target on Unum Group from $75.00 to $91.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 2nd. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $88.36.

Remove Ads

Unum Group Stock Performance

UNM traded up $1.66 during trading on Wednesday, hitting $76.92. The company's stock had a trading volume of 418,954 shares, compared to its average volume of 1,282,564. The business's 50 day simple moving average is $77.80 and its 200-day simple moving average is $72.95. The firm has a market cap of $13.60 billion, a PE ratio of 8.12, a P/E/G ratio of 1.14 and a beta of 0.46. Unum Group has a one year low of $48.38 and a one year high of $84.48. 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 (NYSE:UNM - Get Free Report) last announced 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 14.91% and a net margin of 13.81%. As a group, sell-side analysts predict that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group declared that its Board of Directors has approved a stock repurchase plan on Tuesday, February 18th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 7.4% of its stock through open market purchases. Stock buyback plans are generally 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, May 16th. Investors of record on Friday, April 25th will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.18%. Unum Group's dividend payout ratio is presently 17.74%.

Insider Transactions at Unum Group

In related news, CEO Richard P. Mckenney sold 50,000 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $81.99, for a total value of $4,099,500.00. Following the transaction, the chief executive officer now directly owns 980,637 shares of the company's stock, valued at $80,402,427.63. This represents a 4.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa G. Iglesias sold 7,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $82.75, for a total value of $579,250.00. Following the completion of the transaction, the executive vice president now directly owns 31,284 shares in the company, valued at $2,588,751. This represents a 18.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.93% of the company's stock.

Institutional Investors Weigh In On Unum Group

A number of large investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Unum Group in the 4th quarter valued at $1,003,918,000. Vanguard Group Inc. boosted its stake in shares of Unum Group by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 20,497,586 shares of the financial services provider's stock worth $1,496,939,000 after acquiring an additional 1,596,078 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Unum Group during the 4th quarter valued at about $113,962,000. Zurich Insurance Group Ltd FI purchased a new position in shares of Unum Group in the 4th quarter valued at about $105,199,000. Finally, Freestone Grove Partners LP acquired a new position in Unum Group in the 4th quarter worth about $65,096,000. Hedge funds and other institutional investors own 86.57% of the company's stock.

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.