Unum Group (NYSE:UNM) Upgraded to Strong-Buy by BidaskClub
Unum Group (NYSE:UNM) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.
UNM has been the subject of a number of other reports. Zacks Investment Research raised shares of Unum Group from a “sell” rating to a “hold” rating and set a $56.00 price objective for the company in a report on Monday, July 31st. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Unum Group in a report on Wednesday, July 12th. Deutsche Bank AG increased their price objective on shares of Unum Group from $46.00 to $48.00 and gave the company a “hold” rating in a report on Wednesday, April 19th. Barclays PLC increased their price objective on shares of Unum Group from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Friday. Finally, Wells Fargo & Company reaffirmed a “hold” rating on shares of Unum Group in a report on Sunday, July 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $46.78.
Shares of Unum Group (UNM) traded up 0.02% during trading on Friday, reaching $49.95. 157,835 shares of the company traded hands. Unum Group has a 52 week low of $33.25 and a 52 week high of $51.43. The company’s 50-day moving average price is $48.13 and its 200-day moving average price is $47.04. The company has a market capitalization of $11.27 billion, a P/E ratio of 12.03 and a beta of 1.56.
Unum Group (NYSE:UNM) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. Unum Group had a net margin of 8.57% and a return on equity of 10.23%. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the firm posted $1.00 EPS. Equities research analysts forecast that Unum Group will post $4.17 EPS for the current fiscal year.
Unum Group announced that its Board of Directors has initiated a share repurchase program on Thursday, May 25th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Pamela H. Godwin sold 2,500 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $50.71, for a total value of $126,775.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Breege A. Farrell sold 15,000 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $45.47, for a total value of $682,050.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,960 shares of company stock valued at $932,391. 0.53% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of UNM. Investec Asset Management North America Inc. increased its stake in shares of Unum Group by 7.0% in the second quarter. Investec Asset Management North America Inc. now owns 28,171 shares of the financial services provider’s stock worth $1,314,000 after buying an additional 1,848 shares in the last quarter. Thrivent Financial For Lutherans increased its stake in Unum Group by 0.7% in the second quarter. Thrivent Financial For Lutherans now owns 45,094 shares of the financial services provider’s stock valued at $2,103,000 after buying an additional 300 shares during the period. PNC Financial Services Group Inc. increased its stake in Unum Group by 2.3% in the second quarter. PNC Financial Services Group Inc. now owns 23,138 shares of the financial services provider’s stock valued at $1,078,000 after buying an additional 518 shares during the period. ProShare Advisors LLC increased its stake in Unum Group by 0.8% in the second quarter. ProShare Advisors LLC now owns 94,312 shares of the financial services provider’s stock valued at $4,398,000 after buying an additional 711 shares during the period. Finally, Laurion Capital Management LP increased its stake in Unum Group by 2,083.6% in the second quarter. Laurion Capital Management LP now owns 117,914 shares of the financial services provider’s stock valued at $5,499,000 after buying an additional 112,514 shares during the period. Institutional investors own 93.89% of the company’s stock.
About Unum Group
Unum Group is a provider of financial protection benefits in the United States and the United Kingdom. The Company’s products include disability, life, accident, critical illness, dental and vision, and other related services. Its segments include Unum US, Unum UK, Colonial Life, Closed Block and Corporate.
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