Brokerages Set Unum Group (UNM) PT at $53.33
Shares of Unum Group (NYSE:UNM) have received an average recommendation of “Hold” from the fifteen research firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $53.33.
UNM has been the topic of a number of analyst reports. Wells Fargo & Co reaffirmed a “hold” rating and set a $53.00 price objective on shares of Unum Group in a report on Wednesday, May 2nd. Morgan Stanley cut their price objective on shares of Unum Group from $60.00 to $59.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 2nd. ValuEngine downgraded shares of Unum Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Royal Bank of Canada cut their price objective on shares of Unum Group to $44.00 and set a “sector perform” rating on the stock in a report on Thursday, May 3rd. They noted that the move was a valuation call. Finally, Deutsche Bank cut their price objective on shares of Unum Group from $58.00 to $53.00 and set a “hold” rating on the stock in a report on Thursday, May 3rd.
NYSE UNM opened at $35.56 on Wednesday. Unum Group has a 12-month low of $34.57 and a 12-month high of $58.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.18 and a quick ratio of 0.18. The firm has a market capitalization of $7.85 billion, a P/E ratio of 8.29, a price-to-earnings-growth ratio of 0.78 and a beta of 1.44.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 17th. Shareholders of record on Monday, July 30th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.92%. This is an increase from Unum Group’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, July 27th. Unum Group’s payout ratio is currently 24.24%.
Unum Group declared that its board has initiated a share buyback program on Thursday, May 24th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 8.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other Unum Group news, EVP Breege A. Farrell sold 7,500 shares of Unum Group stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $40.66, for a total transaction of $304,950.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.40% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ING Groep NV raised its stake in shares of Unum Group by 6.0% during the 1st quarter. ING Groep NV now owns 22,607 shares of the financial services provider’s stock worth $1,076,000 after purchasing an additional 1,272 shares during the period. Stephens Inc. AR raised its stake in shares of Unum Group by 6.8% during the 1st quarter. Stephens Inc. AR now owns 20,510 shares of the financial services provider’s stock worth $976,000 after purchasing an additional 1,314 shares during the period. Jacobi Capital Management LLC raised its stake in shares of Unum Group by 29.0% during the 1st quarter. Jacobi Capital Management LLC now owns 5,871 shares of the financial services provider’s stock worth $274,000 after purchasing an additional 1,320 shares during the period. Stanley Laman Group Ltd. raised its stake in shares of Unum Group by 10.7% during the 1st quarter. Stanley Laman Group Ltd. now owns 14,617 shares of the financial services provider’s stock worth $696,000 after purchasing an additional 1,413 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Unum Group by 4.2% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 36,450 shares of the financial services provider’s stock worth $1,736,000 after purchasing an additional 1,463 shares during the period. Institutional investors own 92.70% of the company’s stock.
About Unum Group
Unum Group, together with its subsidiaries, provides financial protection benefit solutions in the United States, the United Kingdom, and internationally. It operates through Unum US, Unum UK, Colonial Life, and Closed Block segments. 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.
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