Brokerages Set Unum Group (NYSE:UNM) Target Price at $80.33

Unum Group (NYSE:UNM) has been given an average rating of “Moderate Buy” by the thirteen research firms that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $81.17.

A number of research firms have recently commented on UNM. Morgan Stanley raised their price objective on shares of Unum Group from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Truist Financial raised their price target on shares of Unum Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Piper Sandler upped their price objective on Unum Group from $82.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Jefferies Financial Group increased their target price on Unum Group from $91.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, BMO Capital Markets assumed coverage on Unum Group in a research note on Thursday, January 23rd. They issued an “outperform” rating and a $91.00 price target on the stock.

Institutional Investors Weigh In On Unum Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UNM. Vanguard Group Inc. grew its stake in shares of Unum Group by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 20,497,586 shares of the financial services provider’s stock valued at $1,496,939,000 after purchasing an additional 1,596,078 shares during the last quarter. Norges Bank bought a new position in Unum Group in the 4th quarter valued at $1,003,918,000. Charles Schwab Investment Management Inc. increased its stake in shares of Unum Group by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,552,252 shares of the financial services provider’s stock valued at $405,481,000 after buying an additional 51,744 shares during the period. Northern Trust Corp raised its position in shares of Unum Group by 33.2% during the fourth quarter. Northern Trust Corp now owns 1,930,349 shares of the financial services provider’s stock worth $140,973,000 after acquiring an additional 480,926 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Unum Group by 15.4% during the fourth quarter. First Trust Advisors LP now owns 1,708,452 shares of the financial services provider’s stock worth $124,768,000 after acquiring an additional 227,644 shares during the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

Unum Group Trading Up 2.2 %

Shares of UNM opened at $76.43 on Wednesday. The stock’s 50-day moving average price is $74.38 and its 200 day moving average price is $67.26. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $13.96 billion, a price-to-earnings ratio of 8.07, a P/E/G ratio of 1.14 and a beta of 0.80. Unum Group has a 12-month low of $48.38 and a 12-month high of $79.43.

Unum Group (NYSE:UNM) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. As a group, research analysts predict that Unum Group will post 9.14 earnings per share for the current year.

Unum Group announced that its Board of Directors has approved a share repurchase program on Tuesday, February 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 7.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Unum Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were issued a $0.42 dividend. The ex-dividend date was Friday, January 24th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.20%. Unum Group’s dividend payout ratio is 17.74%.

Unum Group Company Profile

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.