UBS Group Forecasts Strong Price Appreciation for Unum Group (NYSE:UNM) Stock

Unum Group (NYSE:UNM - Get Free Report) had its target price hoisted by equities researchers at UBS Group from $75.00 to $91.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. UBS Group's price objective indicates a potential upside of 30.50% from the stock's current price.

UNM has been the subject of a number of other research reports. Jefferies Financial Group raised their price objective on Unum Group from $91.00 to $96.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Piper Sandler lifted their price target on Unum Group from $87.00 to $92.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Barclays increased their price objective 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. Morgan Stanley lifted their target price on shares of Unum Group from $80.00 to $84.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Finally, Raymond James upgraded shares of 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 note on Wednesday, March 5th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Unum Group currently has a consensus rating of "Moderate Buy" and an average price target of $87.86.

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Unum Group Stock Down 2.0 %

Shares of NYSE UNM traded down $1.44 during mid-day trading on Wednesday, hitting $69.73. 1,302,308 shares of the stock traded hands, compared to its average volume of 1,273,727. The company has a market cap of $12.33 billion, a price-to-earnings ratio of 7.37, a PEG ratio of 1.14 and a beta of 0.46. The stock has a fifty day moving average price of $78.19 and a 200-day moving average price of $72.28. Unum Group has a 52 week low of $48.38 and a 52 week high of $84.48. 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 released its earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share for the quarter, missing analysts' consensus estimates of $2.14 by ($0.11). Unum Group had a return on equity of 14.91% and a net margin of 13.81%. Research analysts anticipate that Unum Group will post 9.14 EPS 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 repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Insider Activity at Unum Group

In other Unum Group 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 value of $579,250.00. Following the completion of the sale, the executive vice president now owns 31,284 shares in the company, valued at approximately $2,588,751. This represents a 18.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Richard P. Mckenney sold 50,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $81.99, for a total value of $4,099,500.00. Following the sale, the chief executive officer now owns 980,637 shares of the company's stock, valued at $80,402,427.63. This represents a 4.85 % decrease in their position. The disclosure for this sale can be found here. 0.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Barrett & Company Inc. lifted its position in Unum Group by 300.0% during the fourth 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 during the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Unum Group during the 4th quarter valued at about $38,000. Millstone Evans Group LLC bought a new position in shares of Unum Group in the 4th quarter valued at about $45,000. Versant Capital Management Inc grew its position in Unum Group by 26.4% in the fourth quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider's stock worth $56,000 after acquiring an additional 160 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Unum Group by 28.8% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 800 shares of the financial services provider's stock worth $58,000 after acquiring an additional 179 shares during the last quarter. 86.57% of the stock is currently owned by institutional investors.

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.