Unum Group (NYSE:UNM) Sets New 52-Week High - Here's What Happened

Unum Group (NYSE:UNM - Get Free Report) shares hit a new 52-week high on Wednesday . The stock traded as high as $78.68 and last traded at $78.01, with a volume of 487665 shares traded. The stock had previously closed at $75.95.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on UNM. Piper Sandler lifted their price objective on shares of Unum Group from $82.00 to $87.00 and gave the company an "overweight" rating in a report on Thursday. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $79.00 target price (up previously from $74.00) on shares of Unum Group in a research note on Tuesday, January 7th. Barclays increased their price target on shares of Unum Group from $76.00 to $85.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Evercore ISI raised shares of Unum Group from an "in-line" rating to an "outperform" rating and increased their target price for the company from $67.00 to $84.00 in a research report on Thursday, November 14th. Finally, Truist Financial upped their price target on Unum Group from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $79.45.

Unum Group Stock Performance

The firm's 50 day simple moving average is $74.23 and its 200 day simple moving average is $65.32. The firm has a market capitalization of $14.05 billion, a price-to-earnings ratio of 8.13, a PEG ratio of 1.17 and a beta of 0.80. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.29.

Unum Group (NYSE:UNM - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.03 EPS 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%. Sell-side analysts forecast that Unum Group will post 9.12 earnings per share for the current fiscal year.

Unum Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 24th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, January 24th. This represents a $1.68 annualized dividend and a yield of 2.18%. Unum Group's dividend payout ratio is presently 17.74%.

Insider Activity at Unum Group

In other Unum Group news, EVP Lisa G. Iglesias sold 5,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $72.61, for a total transaction of $363,050.00. Following the transaction, the executive vice president now directly owns 35,840 shares of the company's stock, valued at $2,602,342.40. This trade represents a 12.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Hanley Ronald P. O sold 14,299 shares of Unum Group stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $72.10, for a total transaction of $1,030,957.90. Following the completion of the sale, the director now owns 38,819 shares in the company, valued at approximately $2,798,849.90. This trade represents a 26.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 98,164 shares of company stock worth $7,346,040 in the last 90 days. Corporate insiders own 0.93% of the company's stock.

Hedge Funds Weigh In On Unum Group

A number of hedge funds have recently made changes to their positions in UNM. Charles Schwab Investment Management Inc. boosted its stake in Unum Group by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,500,508 shares of the financial services provider's stock worth $326,950,000 after purchasing an additional 55,014 shares during the last quarter. Franklin Resources Inc. boosted its stake in 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 last quarter. Thrivent Financial for Lutherans grew its holdings in Unum Group by 89.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 111,831 shares of the financial services provider's stock valued at $6,647,000 after buying an additional 52,813 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Unum Group by 44.1% during the 4th quarter. Blue Trust Inc. now owns 16,495 shares of the financial services provider's stock worth $1,205,000 after acquiring an additional 5,047 shares during the period. Finally, Kovitz Investment Group Partners LLC acquired a new position in shares of Unum Group during the 3rd quarter valued at about $1,074,000. Institutional investors and hedge funds 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.