Piper Sandler Issues Positive Forecast for Unum Group (NYSE:UNM) Stock Price

Unum Group (NYSE:UNM - Get Free Report) had its price target raised by research analysts at Piper Sandler from $74.00 to $82.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Piper Sandler's price target indicates a potential upside of 16.30% from the company's previous close.

Several other analysts have also recently commented on the company. Morgan Stanley raised their target price on Unum Group from $62.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Evercore ISI upgraded Unum Group from an "in-line" rating to an "outperform" rating and raised their price objective for the stock from $67.00 to $84.00 in a research report on Thursday, November 14th. Wells Fargo & Company upped their target price on Unum Group from $69.00 to $71.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Barclays increased their price target on shares of Unum Group from $72.00 to $74.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Finally, Bank of America boosted their price objective on shares of Unum Group from $54.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Unum Group has an average rating of "Moderate Buy" and an average price target of $72.09.

Unum Group Price Performance

NYSE UNM traded down $2.35 on Wednesday, reaching $70.51. 2,920,040 shares of the stock traded hands, compared to its average volume of 1,261,710. Unum Group has a 12 month low of $44.01 and a 12 month high of $77.63. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. The firm's fifty day simple moving average is $69.52 and its 200 day simple moving average is $59.38. The company has a market cap of $12.88 billion, a price-to-earnings ratio of 7.63, a P/E/G ratio of 1.06 and a beta of 0.79.

Unum Group (NYSE:UNM - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.10 by $0.03. The firm had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.26 billion. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. Unum Group's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.94 earnings per share. As a group, research analysts predict that Unum Group will post 8.54 EPS for the current fiscal year.

Insider Activity at Unum Group

In related news, EVP Timothy Gerald Arnold sold 10,000 shares of the firm's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $76.92, for a total value of $769,200.00. Following the completion of the transaction, the executive vice president now directly owns 54,827 shares of the company's stock, valued at $4,217,292.84. This trade represents a 15.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Elizabeth Claire Ahmed sold 5,000 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $64.16, for a total transaction of $320,800.00. Following the completion of the transaction, the executive vice president now owns 58,741 shares of the company's stock, valued at approximately $3,768,822.56. This represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 107,914 shares of company stock worth $7,998,745 in the last ninety days. 0.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. DGS Capital Management LLC lifted its position in Unum Group by 4.6% during the 3rd quarter. DGS Capital Management LLC now owns 36,962 shares of the financial services provider's stock worth $2,197,000 after buying an additional 1,611 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Unum Group by 50.0% during the third quarter. Franklin Resources Inc. now owns 469,342 shares of the financial services provider's stock worth $29,554,000 after purchasing an additional 156,380 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Unum Group in the 3rd quarter worth approximately $58,000. Coldstream Capital Management Inc. lifted its holdings in Unum Group by 10.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 12,778 shares of the financial services provider's stock worth $775,000 after buying an additional 1,221 shares in the last quarter. Finally, Vestcor Inc boosted its position in Unum Group by 156.2% in the 3rd quarter. Vestcor Inc now owns 88,728 shares of the financial services provider's stock valued at $5,274,000 after buying an additional 54,095 shares during the last quarter. Institutional investors own 86.57% of the company's stock.

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.