Unum Group (NYSE:UNM) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Unum Group (NYSE:UNM - Free Report) had its price objective hoisted by Morgan Stanley from $80.00 to $84.00 in a report published on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the financial services provider's stock.

UNM has been the subject of several other research reports. StockNews.com downgraded Unum Group from a "buy" rating to a "hold" rating in a research report on Monday, February 24th. Wells Fargo & Company boosted their price objective on shares of Unum Group from $81.00 to $91.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. Barclays raised their target price on shares of Unum Group from $76.00 to $85.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Piper Sandler boosted their price target on Unum Group from $82.00 to $87.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Finally, Truist Financial raised 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. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $84.83.

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Unum Group Price Performance

Shares of UNM stock traded down $3.44 during mid-day trading on Friday, reaching $77.95. The stock had a trading volume of 2,639,632 shares, compared to its average volume of 1,237,215. The company has a market cap of $14.23 billion, a P/E ratio of 8.23, a price-to-earnings-growth ratio of 1.14 and a beta of 0.80. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. Unum Group has a 12-month low of $48.38 and a 12-month high of $83.96. The business has a 50-day simple moving average of $75.10 and a 200 day simple moving average of $68.02.

Unum Group (NYSE:UNM - Get Free Report) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. On average, sell-side analysts anticipate that Unum Group will post 9.14 earnings per share for the current year.

Unum Group declared that its Board of Directors has approved a share buyback program on Tuesday, February 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 7.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Unum Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were issued a $0.42 dividend. The ex-dividend date was Friday, January 24th. This represents a $1.68 annualized dividend and a yield of 2.16%. Unum Group's payout ratio is 17.74%.

Institutional Investors Weigh In On Unum Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Barrett & Company Inc. grew its holdings in Unum Group by 300.0% during the 4th quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 297 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Unum Group in the 3rd quarter valued at about $31,000. Kestra Investment Management LLC bought a new position in Unum Group during the 4th quarter worth approximately $38,000. Millstone Evans Group LLC bought a new position in Unum Group during the fourth quarter worth $45,000. Finally, Quarry LP boosted its holdings in shares of Unum Group by 4,794.7% in the 3rd quarter. Quarry LP now owns 930 shares of the financial services provider's stock valued at $55,000 after buying an additional 911 shares during the period. Hedge funds and other 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.