Unum Group (NYSE:UNM) PT Lowered to $63.00

by · The Cerbat Gem

Unum Group (NYSE:UNM – Get Free Report) had its target price cut by research analysts at JPMorgan Chase & Co. from $65.00 to $63.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 2.34% from the company’s previous close.

Several other equities analysts have also commented on UNM. Barclays began coverage on Unum Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $73.00 target price on the stock. Wells Fargo & Company upped their price target on Unum Group from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Jefferies Financial Group increased their price target on shares of Unum Group from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Piper Sandler restated an “overweight” rating and set a $66.00 price objective (up previously from $64.00) on shares of Unum Group in a research report on Friday, September 27th. Finally, Citigroup increased their target price on shares of Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.60.

View Our Latest Report on UNM

Unum Group Price Performance

UNM stock opened at $61.56 on Thursday. The business’s 50-day moving average is $55.52 and its two-hundred day moving average is $53.19. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market capitalization of $11.66 billion, a P/E ratio of 9.15, a P/E/G ratio of 0.88 and a beta of 0.77. Unum Group has a 1 year low of $41.75 and a 1 year high of $61.70.

Unum Group (NYSE:UNM – Get Free Report) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.14. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter last year, the company earned $2.06 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. Analysts anticipate that Unum Group will post 8.48 earnings per share for the current fiscal year.

Unum Group announced that its board has approved a stock buyback plan on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 10% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Richard P. Mckenney sold 67,795 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $54.98, for a total value of $3,727,369.10. Following the transaction, the chief executive officer now owns 1,065,868 shares of the company’s stock, valued at approximately $58,601,422.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Richard P. Mckenney sold 67,795 shares of Unum Group stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $54.98, for a total value of $3,727,369.10. Following the sale, the chief executive officer now owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $54.11, for a total transaction of $541,100.00. Following the transaction, the executive vice president now directly owns 64,821 shares of the company’s stock, valued at $3,507,464.31. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is owned by insiders.

Institutional Trading of Unum Group

A number of institutional investors have recently modified their holdings of UNM. GAMMA Investing LLC lifted its holdings in Unum Group by 7.1% in the first quarter. GAMMA Investing LLC now owns 3,071 shares of the financial services provider’s stock valued at $165,000 after acquiring an additional 204 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Unum Group by 2.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 10,126 shares of the financial services provider’s stock valued at $518,000 after purchasing an additional 217 shares during the period. QRG Capital Management Inc. grew its position in Unum Group by 1.8% during the second quarter. QRG Capital Management Inc. now owns 12,786 shares of the financial services provider’s stock worth $654,000 after buying an additional 226 shares during the period. FinTrust Capital Advisors LLC increased its holdings in Unum Group by 20.4% in the first quarter. FinTrust Capital Advisors LLC now owns 1,457 shares of the financial services provider’s stock valued at $78,000 after buying an additional 247 shares in the last quarter. Finally, Bank of Nova Scotia increased its holdings in Unum Group by 2.8% in the fourth quarter. Bank of Nova Scotia now owns 9,193 shares of the financial services provider’s stock valued at $416,000 after buying an additional 249 shares in the last quarter. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

About Unum Group

(Get Free Report)

Unum Group, together with its subsidiaries, provides financial protection benefit solutions primarily in the United States, the United Kingdom, Poland, and internationally. It operates through Unum US, Unum International, Colonial Life, and Closed Block segment. 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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