Unum Group (NYSE:UNM) Reaches New 52-Week High - Time to Buy?

Shares of Unum Group (NYSE:UNM - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $73.31 and last traded at $73.29, with a volume of 1569 shares trading hands. The stock had previously closed at $73.19.

Wall Street Analysts Forecast Growth

UNM has been the topic of several recent analyst reports. Citigroup raised their price objective on shares of Unum Group from $62.00 to $69.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. Bank of America raised 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. Wells Fargo & Company raised their price objective on shares of Unum Group from $69.00 to $71.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. UBS Group upgraded shares of Unum Group to a "hold" rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Unum Group from $65.00 to $63.00 and set an "overweight" rating on the stock in a report on Thursday, October 3rd. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $67.73.

Unum Group Trading Down 0.8 %

The stock has a market cap of $13.25 billion, a PE ratio of 7.85, a PEG ratio of 1.07 and a beta of 0.76. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a fifty day moving average price of $61.92 and a 200 day moving average price of $55.95.

Unum Group (NYSE:UNM - Get Free Report) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, topping analysts' consensus estimates of $2.10 by $0.03. The firm had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.26 billion. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The company's quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.94 EPS. Equities analysts expect that Unum Group will post 8.53 EPS for the current year.

Unum Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 25th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Friday, October 25th. Unum Group's dividend payout ratio is currently 18.18%.

Unum Group announced that its Board of Directors has initiated a share 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 repurchase up to 10% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other Unum Group news, EVP Christopher W. Pyne sold 3,250 shares of Unum Group stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $70.02, for a total transaction of $227,565.00. Following the completion of the sale, 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 6.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Walter Lynn Rice, Jr. sold 1,500 shares of Unum Group stock in a transaction 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 sale, the chief accounting officer now directly owns 8,361 shares of the company's stock, valued at approximately $581,591.16. This trade represents a 15.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 91,844 shares of company stock valued at $5,411,032. Insiders own 0.93% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in UNM. Versant Capital Management Inc raised its position 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 worth $26,000 after acquiring an additional 394 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Unum Group during the 2nd quarter worth $26,000. 1620 Investment Advisors Inc. purchased a new position in Unum Group during the 2nd quarter worth $29,000. Capital Performance Advisors LLP purchased a new position in Unum Group during the 3rd quarter worth $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Unum Group during the 3rd quarter worth $37,000. 86.57% of the stock is owned by institutional investors.

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.