Unum Group (NYSE:UNM) Hits New 1-Year High – Here’s What Happened

Unum Group (NYSE:UNM) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $70.57 and last traded at $70.44, with a volume of 11872 shares changing hands. The stock had previously closed at $69.42.

Wall Street Analysts Forecast Growth

Several research firms have commented on UNM. Bank of America upped their price target on Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Barclays raised their target price on Unum Group from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. UBS Group raised shares of Unum Group to a “hold” rating in a report on Wednesday, October 9th. Truist Financial increased their price objective on shares of Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Citigroup lifted 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. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Unum Group currently has an average rating of “Moderate Buy” and an average target price of $66.09.

Unum Group Stock Up 1.5 %

The firm has a market capitalization of $13.02 billion, a price-to-earnings ratio of 7.72, a P/E/G ratio of 1.03 and a beta of 0.76. The firm has a fifty day moving average price of $60.88 and a 200 day moving average price of $55.51. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.26 billion. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.94 earnings per share. Sell-side analysts anticipate that Unum Group will post 8.52 EPS for the current fiscal year.

Unum Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Friday, October 25th. Unum Group’s dividend payout ratio is currently 18.18%.

Unum Group declared that its Board of Directors has authorized a share buyback program on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 10% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Unum Group

In related news, CEO Richard P. Mckenney sold 67,795 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Richard P. Mckenney sold 67,795 shares of the firm’s stock in a transaction dated 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Walter Lynn Rice, Jr. sold 1,500 shares of Unum Group stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $69.56, for a total value of $104,340.00. Following the completion of the sale, the chief accounting officer now owns 8,361 shares of the company’s stock, valued at approximately $581,591.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,545 shares of company stock worth $4,380,074. Corporate insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Unum Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its position in shares of Unum Group by 116.3% during the 1st quarter. BNP Paribas Financial Markets now owns 34,606 shares of the financial services provider’s stock valued at $1,857,000 after acquiring an additional 18,604 shares during the last quarter. Sei Investments Co. grew its stake in shares of Unum Group by 105.8% during the first quarter. Sei Investments Co. now owns 377,627 shares of the financial services provider’s stock worth $20,263,000 after purchasing an additional 194,125 shares during the period. Meeder Advisory Services Inc. bought a new stake in Unum Group in the first quarter valued at about $218,000. QRG Capital Management Inc. lifted its stake in Unum Group by 3.1% in the first quarter. QRG Capital Management Inc. now owns 12,560 shares of the financial services provider’s stock valued at $674,000 after buying an additional 375 shares during the period. Finally, Bleakley Financial Group LLC boosted its holdings in Unum Group by 5.3% during the first quarter. Bleakley Financial Group LLC now owns 5,645 shares of the financial services provider’s stock worth $303,000 after buying an additional 283 shares during the last quarter. 86.57% of the stock is owned by institutional investors.

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.