Barclays Trims Unum Group (NYSE:UNM) Target Price to $72.00

Unum Group (NYSE:UNM) had its price target decreased by Barclays from $73.00 to $72.00 in a research report released on Tuesday, Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. Evercore ISI lifted their target price on Unum Group from $56.00 to $58.00 and gave the stock an in-line rating in a report on Wednesday, June 26th. JPMorgan Chase & Co. lowered their price objective on Unum Group from $65.00 to $63.00 and set an overweight rating for the company in a research report on Thursday, October 3rd. Truist Financial lifted their price objective on Unum Group from $62.00 to $70.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Citigroup lifted their price objective on Unum Group from $62.00 to $69.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. Finally, Wells Fargo & Company lifted their price objective on Unum Group from $66.00 to $69.00 and gave the stock an overweight rating in a research report on Monday, August 12th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $63.64.

Unum Group Trading Up 1.8 %

NYSE UNM opened at $62.73 on Tuesday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.33. Unum Group has a twelve month low of $41.75 and a twelve month high of $63.25. The company has a market cap of $11.65 billion, a price-to-earnings ratio of 9.23, a price-to-earnings-growth ratio of 0.91 and a beta of 0.77. The business’s fifty day moving average is $56.15 and its 200 day moving average is $53.50.

Unum Group (NYSE:UNM) last announced its earnings results on Tuesday, July 30th. The financial services provider reported $2.16 EPS for the quarter, topping the consensus estimate of $2.02 by $0.14. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.23 billion. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.06 EPS. As a group, sell-side analysts expect that Unum Group will post 8.47 EPS for the current fiscal year.

Unum Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 25th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.68%. Unum Group’s payout ratio is 24.71%.

Unum Group declared that its board has initiated a share repurchase 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 buy up to 10% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Unum Group

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

Hedge Funds Weigh In On Unum Group

Institutional investors have recently bought and sold shares of the company. Quadrature Capital Ltd purchased a new position in Unum Group in the first quarter valued at approximately $1,130,000. Boone Capital Management LLC raised its holdings in Unum Group by 10.8% during the 4th quarter. Boone Capital Management LLC now owns 961,661 shares of the financial services provider’s stock valued at $43,486,000 after acquiring an additional 94,096 shares during the period. Tidal Investments LLC raised its holdings in Unum Group by 80.7% during the 1st quarter. Tidal Investments LLC now owns 64,008 shares of the financial services provider’s stock valued at $3,436,000 after acquiring an additional 28,580 shares during the period. Wedge Capital Management L L P NC raised its holdings in Unum Group by 8.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 872,808 shares of the financial services provider’s stock valued at $44,609,000 after acquiring an additional 64,661 shares during the period. Finally, Nordea Investment Management AB raised its holdings in Unum Group by 51.7% during the 1st quarter. Nordea Investment Management AB now owns 2,961,539 shares of the financial services provider’s stock valued at $158,590,000 after acquiring an additional 1,008,776 shares during the period. Hedge funds and other institutional investors own 86.57% of the company’s stock.

About Unum Group

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.