Unum Group (NYSE:UNM) Upgraded to "Outperform" at Evercore ISI

Evercore ISI upgraded shares of Unum Group (NYSE:UNM - Free Report) from an in-line rating to an outperform rating in a research report released on Thursday, MarketBeat Ratings reports. The firm currently has $84.00 target price on the financial services provider's stock, up from their prior target price of $67.00.

Several other equities research analysts also recently commented on UNM. Citigroup upped their target price on Unum Group from $62.00 to $69.00 and gave the company a "buy" rating in a report on Tuesday, July 23rd. UBS Group raised Unum Group to a "hold" rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price target on shares of Unum Group from $65.00 to $63.00 and set an "overweight" rating for the company in a report on Thursday, October 3rd. Truist Financial raised their price target on shares of Unum Group from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Finally, Morgan Stanley raised their price target on shares of Unum Group from $62.00 to $64.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $67.73.

Unum Group Stock Performance

Shares of NYSE:UNM traded up $1.31 on Thursday, reaching $72.33. 684,416 shares of the company's stock were exchanged, compared to its average volume of 1,246,107. 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 business's 50-day moving average is $61.20 and its two-hundred day moving average is $55.62. The firm has a market capitalization of $13.21 billion, a price-to-earnings ratio of 7.79, a PEG ratio of 1.05 and a beta of 0.76. Unum Group has a fifty-two week low of $41.86 and a fifty-two week high of $72.96.

Unum Group (NYSE:UNM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share for the quarter, beating analysts' consensus estimates of $2.10 by $0.03. The business 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%. The company's revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.94 earnings per share. As a group, equities research analysts forecast that Unum Group will post 8.52 EPS for the current year.

Unum Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 25th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.32%. Unum Group's dividend payout ratio (DPR) is currently 18.18%.

Unum Group declared that its Board of Directors has approved a stock buyback program on Tuesday, July 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 10% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Transactions at Unum Group

In related news, EVP Christopher W. Pyne sold 3,250 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $70.02, for a total value of $227,565.00. Following the completion of the transaction, the executive vice president now owns 50,762 shares in the company, valued at $3,554,355.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Christopher W. Pyne sold 3,250 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $70.02, for a total value of $227,565.00. Following the transaction, the executive vice president now directly owns 50,762 shares of the company's stock, valued at $3,554,355.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $69.56, for a total value of $104,340.00. Following the completion of the transaction, the chief accounting officer now directly owns 8,361 shares in the company, valued at approximately $581,591.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,545 shares of company stock valued at $4,380,074. 0.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc raised its holdings in shares of Unum Group by 361.5% in the 2nd quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 394 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Unum Group in the 2nd quarter valued at about $26,000. 1620 Investment Advisors Inc. purchased a new position in shares of Unum Group during the 2nd quarter valued at about $29,000. Capital Performance Advisors LLP purchased a new position in shares of Unum Group during the 3rd quarter valued at about $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Unum Group during the 3rd quarter valued at about $37,000. 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.