Unum Group (NYSE:UNM) Stock Price Expected to Rise, Piper Sandler Analyst Says

Unum Group (NYSE:UNM - Free Report) had its target price boosted by Piper Sandler from $87.00 to $92.00 in a research report released on Wednesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider's stock.

Other research analysts also recently issued reports about the company. Jefferies Financial Group boosted their price target on Unum Group from $91.00 to $96.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Wells Fargo & Company increased their price target on shares of Unum Group from $81.00 to $91.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Barclays lifted their price objective on Unum Group from $76.00 to $85.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Raymond James upgraded Unum Group from a "market perform" rating to a "strong-buy" rating and set a $108.00 target price on the stock in a research report on Wednesday, March 5th. Finally, BMO Capital Markets boosted their price target on Unum Group from $95.00 to $102.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $87.86.

Remove Ads

Unum Group Stock Down 2.0 %

Unum Group stock traded down $1.44 during midday trading on Wednesday, reaching $69.73. The company's stock had a trading volume of 1,302,308 shares, compared to its average volume of 1,273,727. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.28. The stock has a market capitalization of $12.33 billion, a P/E ratio of 7.37, a PEG ratio of 1.14 and a beta of 0.46. The stock's 50-day simple moving average is $78.19 and its 200-day simple moving average is $72.28. Unum Group has a 52-week low of $48.38 and a 52-week high of $84.48.

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 (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%. On average, sell-side analysts expect that Unum Group will post 9.14 EPS for the current year.

Unum Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 24th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Friday, January 24th. Unum Group's dividend payout ratio (DPR) is presently 17.74%.

Unum Group announced that its board has authorized a stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 7.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Transactions at Unum Group

In other news, EVP Lisa G. Iglesias sold 7,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $82.75, for a total transaction 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 approximately $2,588,751. This represents a 18.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard P. Mckenney sold 50,000 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the completion of the sale, the chief executive officer now owns 980,637 shares in the company, valued at approximately $80,402,427.63. This trade represents a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.93% of the company's stock.

Hedge Funds Weigh In On Unum Group

Several large investors have recently made changes to their positions in the stock. Franklin Resources Inc. boosted 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 buying an additional 156,380 shares during the period. Blue Trust Inc. increased its stake in Unum Group by 44.1% during the fourth quarter. Blue Trust Inc. now owns 16,495 shares of the financial services provider's stock worth $1,205,000 after purchasing an additional 5,047 shares during the period. Kovitz Investment Group Partners LLC purchased a new stake in shares of Unum Group during the third quarter worth $1,074,000. Picton Mahoney Asset Management acquired a new position in Unum Group during the 4th quarter worth $8,816,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Unum Group by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,552,252 shares of the financial services provider's stock worth $405,481,000 after purchasing an additional 51,744 shares during the period. 86.57% of the stock is currently owned by institutional investors and hedge funds.

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.