Unum Group (NYSE:UNM) Price Target Raised to $84.00 at Morgan Stanley

Unum Group (NYSE:UNM) had its price objective increased by Morgan Stanley from $80.00 to $84.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

UNM has been the subject of a number of other reports. Evercore ISI upgraded Unum Group from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $67.00 to $84.00 in a report on Thursday, November 14th. Keefe, Bruyette & Woods raised their price objective on Unum Group from $90.00 to $103.00 and gave the company an “outperform” rating in a research report on Friday. Truist Financial lifted their price target on Unum Group from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 1st. StockNews.com cut Unum Group from a “buy” rating to a “hold” rating in a report on Monday, February 24th. Finally, BMO Capital Markets assumed coverage on Unum Group in a research note on Thursday, January 23rd. They set an “outperform” rating and a $91.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.92.

Unum Group Trading Up 0.7 %

NYSE:UNM opened at $82.27 on Friday. Unum Group has a 1-year low of $48.38 and a 1-year high of $83.96. The business’s 50-day moving average price is $74.73 and its two-hundred day moving average price is $67.43. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $15.02 billion, a price-to-earnings ratio of 8.69, a PEG ratio of 1.14 and a beta of 0.80.

Unum Group (NYSE:UNM) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.11). Unum Group had a return on equity of 14.91% and a net margin of 13.81%. On average, equities analysts expect that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were given a dividend of $0.42 per share. The ex-dividend date was Friday, January 24th. This represents a $1.68 dividend on an annualized basis and a yield of 2.04%. Unum Group’s dividend payout ratio is currently 17.74%.

Unum Group declared that its Board of Directors has approved a stock buyback 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 repurchase up to 7.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in UNM. Barrett & Company Inc. increased its position in Unum Group by 300.0% in the 4th quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock valued at $29,000 after buying an additional 297 shares in the last quarter. Kestra Investment Management LLC bought a new position in shares of Unum Group in the fourth quarter valued at approximately $38,000. Capital Performance Advisors LLP purchased a new position in Unum Group in the third quarter valued at approximately $31,000. Millstone Evans Group LLC purchased a new position in Unum Group in the fourth quarter valued at approximately $45,000. Finally, Versant Capital Management Inc lifted its stake in Unum Group by 26.4% in the fourth quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 160 shares during the last quarter. 86.57% of the stock is owned by institutional investors and hedge funds.

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.