Unum Group (NYSE:UNM) Stock Has Average Target Price of $96.92

Unum Group (NYSE:UNM) has earned an average rating of “Moderate Buy” from the fourteen research firms that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $95.67.

Several equities analysts have recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Unum Group in a research report on Monday, October 26th. JPMorgan Chase & Co. raised shares of Unum Group from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $98.00 to $90.00 in a report on Monday. Atlantic Securities set a $88.00 target price on Unum Group in a research report on Wednesday, July 15th. Truist Financial lowered their price objective on shares of Unum Group from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, November 5th. Finally, Wells Fargo & Company lifted their price objective on shares of Unum Group from $100.00 to $102.00 and gave the company an “overweight” rating in a report on Monday, October 12th.

Insider Buying and Selling at Unum Group

In other news, CAO Walter Lynn Rice, Jr. sold 2,188 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $94.31, for a total value of $206,350.28. Following the completion of the sale, the chief accounting officer owned 8,154 shares in the company, valued at $769,003.74. This represents a 21.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lisa G. Iglesias sold 4,000 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $94.44, for a total transaction of $377,760.00. Following the transaction, the executive vice president owned 25,453 shares in the company, valued at approximately $2,403,781.32. This trade represents a 13.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 10,488 shares of company stock worth $988,396. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Unum Group

A number of large investors have recently added to or reduced their stakes in UNM. Composition Wealth LLC increased its position in Unum Group by 5.5% in the third quarter. Composition Wealth LLC now owns 2,452 shares of the financial services provider’s stock worth $215,000 after buying an additional 127 shares during the last quarter. Prosperity Consulting Group LLC lifted its position in shares of Unum Group by 1.6% during the 1st quarter. Prosperity Consulting Group LLC now owns 8,157 shares of the financial services provider’s stock valued at $596,000 after buying an additional 128 shares during the last quarter. CX Institutional grew its stake in shares of Unum Group by 57.8% during the 3rd quarter. CX Institutional now owns 352 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 129 shares during the period. Fragasso Financial Advisors Inc raised its stake in Unum Group by 4.9% in the 3rd quarter. Fragasso Financial Advisors Inc now owns 2,901 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 135 shares during the period. Finally, Park Avenue Securities LLC raised its stake in Unum Group by 1.4% in the 3rd quarter. Park Avenue Securities LLC now owns 10,013 shares of the financial services provider’s stock valued at $878,000 after acquiring an additional 143 shares during the period. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Unum Group Trading Up 1.1%

Shares of NYSE:UNM opened at $81.09 on Friday. The firm has a fifty day moving average of $90.82 and a two-hundred day moving average of $84.09. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.35. Unum Group has a 12-month low of $69.02 and a 12-month high of $96.77. The firm has a market capitalization of $12.57 billion, a P/E ratio of 57.51, a price-to-earnings-growth ratio of 0.86 and a beta of 0.25.

Unum Group (NYSE:UNM) last posted its earnings results on Tuesday, November 3rd. The financial services provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.04. Unum Group had a return on equity of 12.57% and a net margin of 1.94%. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same period in the previous year, the company earned $2.09 EPS. On average, equities analysts expect that Unum Group will post 8.41 EPS for the current fiscal year.

Unum Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, October 30th will be issued a dividend of $0.5050 per share. The ex-dividend date is Friday, October 30th. This represents a $2.02 annualized dividend and a yield of 2.5%. Unum Group’s dividend payout ratio is 143.26%.

Unum Group announced that its board has approved a share repurchase plan on Wednesday, August 26th that authorizes the company to repurchase $1 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7% of its stock through open market purchases. Share repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Unum Group Company Profile

Unum Group is an insurance holding company that provides employee benefits and related services, primarily to employers and their workers. Its offerings include group disability and life insurance, accident and critical illness coverage, and services that help employers manage employee leave and workplace absence. Through its Unum and Colonial Life businesses, the company also provides voluntary benefits that employees can elect through their workplaces. In the United Kingdom, Unum offers workplace benefits including income protection, life insurance and critical illness coverage.