Unum Group (UNM) Price Target Raised to $57.00
Unum Group (NYSE:UNM) had its price target raised by equities research analysts at Barclays PLC from $56.00 to $57.00 in a research report issued on Friday. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays PLC’s price target points to a potential upside of 14.14% from the stock’s current price.
Several other brokerages have also commented on UNM. Zacks Investment Research raised shares of Unum Group from a “sell” rating to a “hold” rating and set a $56.00 price objective on the stock in a research report on Monday, July 31st. BidaskClub upgraded shares of Unum Group from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Royal Bank Of Canada reiterated a “hold” rating on shares of Unum Group in a research note on Wednesday, July 12th. Deutsche Bank AG lifted their target price on shares of Unum Group from $46.00 to $48.00 and gave the stock a “hold” rating in a research note on Wednesday, April 19th. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of Unum Group in a research note on Sunday, July 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Unum Group currently has a consensus rating of “Hold” and a consensus target price of $46.78.
Unum Group (NYSE:UNM) traded up 0.24% on Friday, hitting $50.06. 91,427 shares of the stock traded hands. Unum Group has a 52 week low of $33.25 and a 52 week high of $51.43. The firm has a market capitalization of $11.30 billion, a PE ratio of 12.06 and a beta of 1.56. The stock has a 50 day moving average of $48.13 and a 200 day moving average of $47.04.
Unum Group (NYSE:UNM) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.05 earnings per share 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 company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the firm earned $1.00 earnings per share. Equities research analysts anticipate that Unum Group will post $4.17 earnings per share for the current year.
Unum Group declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 25th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 7.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
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In related news, EVP Breege A. Farrell sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $45.47, for a total transaction of $682,050.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gloria C. Larson sold 2,460 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $50.23, for a total transaction of $123,565.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,960 shares of company stock valued at $932,391. 0.53% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Unum Group by 2,690.7% in the first quarter. BlackRock Inc. now owns 16,788,648 shares of the financial services provider’s stock worth $787,221,000 after buying an additional 16,187,062 shares in the last quarter. AQR Capital Management LLC boosted its position in Unum Group by 32.4% in the first quarter. AQR Capital Management LLC now owns 5,699,745 shares of the financial services provider’s stock worth $267,262,000 after buying an additional 1,395,330 shares in the last quarter. Boston Partners boosted its position in Unum Group by 16.6% in the first quarter. Boston Partners now owns 9,564,880 shares of the financial services provider’s stock worth $448,498,000 after buying an additional 1,358,289 shares in the last quarter. Prudential Financial Inc. boosted its position in Unum Group by 75.8% in the first quarter. Prudential Financial Inc. now owns 2,381,719 shares of the financial services provider’s stock worth $111,679,000 after buying an additional 1,026,653 shares in the last quarter. Finally, Systematic Financial Management LP boosted its position in Unum Group by 181.1% in the first quarter. Systematic Financial Management LP now owns 1,362,845 shares of the financial services provider’s stock worth $63,904,000 after buying an additional 878,031 shares in the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.
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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