Unum Group (UNM) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Unum Group (NYSE:UNM) from a hold rating to a buy rating in a research note published on Thursday. They currently have $58.00 price objective on the financial services provider’s stock.
According to Zacks, “Shares of Unum Group have outperformed industry in a year's time. However, the company did not witness any earnings momentum for its 2017 and 2018 estimates over the last 60 days. Nonetheless, the company’s premiums continue to increase, fueled by solid persistency levels in core business lines and sturdy volume of sales, along with solid benefits experience. Acquisitions have provided an additional support. Starmount Life Insurance Company buyout gave access to growth opportunities in the dental market, which is in sync with its strategy to focus more on the employee benefits business. A sustained favorable performance drives solid capital generation and strong financial flexibility aiding active capital deployment. Unum expects 2017 operating earnings to grow 5–8% over the 2016 level. However, exposure to low interest rate environment remains the key headwind affecting the Unum U.K. results.”
Several other research analysts have also recently commented on UNM. BidaskClub upgraded shares of Unum Group from a sell rating to a hold rating in a report 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. Wells Fargo & Company reiterated a hold rating on shares of Unum Group in a research note on Sunday, July 30th. Barclays PLC increased their price target on shares of Unum Group from $56.00 to $57.00 and gave the company an overweight rating in a research note on Friday, August 11th. Finally, ValuEngine upgraded shares of Unum Group from a buy rating to a strong-buy rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $51.22.
Shares of Unum Group (NYSE:UNM) opened at 52.54 on Thursday. The firm has a market cap of $11.86 billion, a price-to-earnings ratio of 12.65 and a beta of 1.59. Unum Group has a 1-year low of $34.83 and a 1-year high of $52.75. The company has a 50 day moving average of $49.19 and a 200 day moving average of $47.47.
Unum Group (NYSE:UNM) last announced its earnings results on Thursday, July 27th. The financial services provider reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $2.80 billion. During the same quarter in the prior year, the company posted $1.00 earnings per share. On average, equities analysts forecast that Unum Group will post $4.17 earnings per share for the current fiscal year.
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In other news, Director Pamela H. Godwin sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $50.71, for a total transaction of $126,775.00. The transaction 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 firm’s stock in a transaction dated Tuesday, August 1st. The stock was 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. Company insiders own 0.53% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BB&T Investment Services Inc. acquired a new stake in shares of Unum Group during the 2nd quarter worth about $100,000. Jacobi Capital Management LLC acquired a new stake in shares of Unum Group during the 2nd quarter worth about $159,000. Huntington National Bank lifted its stake in shares of Unum Group by 25.8% during the 2nd quarter. Huntington National Bank now owns 3,417 shares of the financial services provider’s stock worth $160,000 after buying an additional 700 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Unum Group by 3.2% during the 1st quarter. Pacer Advisors Inc. now owns 4,366 shares of the financial services provider’s stock worth $205,000 after buying an additional 134 shares during the last quarter. Finally, Gotham Asset Management LLC acquired a new stake in shares of Unum Group during the 1st quarter worth about $208,000. Institutional investors own 92.34% of the company’s stock.
Unum Group Company Profile
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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