Unum Group (NYSE:UNM) Upgraded to Hold at UBS Group

UBS Group upgraded shares of Unum Group (NYSE:UNM) to a hold rating in a research report released on Wednesday, Zacks.com reports.

UNM has been the topic of several other research reports. Citigroup upped their price target on shares of Unum Group from $62.00 to $69.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. Truist Financial upped their price objective on Unum Group from $62.00 to $70.00 and gave the stock a buy rating in a report on Thursday, August 1st. Wells Fargo & Company boosted their target price on Unum Group from $69.00 to $71.00 and gave the stock an overweight rating in a research report on Thursday. Piper Sandler reiterated an overweight rating and issued a $66.00 price target (up previously from $64.00) on shares of Unum Group in a report on Friday, September 27th. Finally, Bank of America upped their target price on shares of Unum Group from $54.00 to $63.00 and gave the company a neutral rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $63.64.

Unum Group Trading Up 1.8 %

Shares of UNM opened at $62.73 on Wednesday. The stock has a 50 day simple moving average of $56.15 and a 200-day simple moving average of $53.50. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.33. The stock has a market cap of $11.65 billion, a PE ratio of 9.23, a PEG ratio of 0.91 and a beta of 0.77. Unum Group has a 1 year low of $41.75 and a 1 year high of $63.25.

Unum Group (NYSE:UNM) last announced its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.14. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.23 billion. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm posted $2.06 EPS. On average, sell-side analysts predict that Unum Group will post 8.49 EPS for the current fiscal year.

Unum Group Announces Dividend

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

Unum Group declared that its board has authorized a stock repurchase program on Tuesday, July 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 10% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

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

Hedge Funds Weigh In On Unum Group

Several institutional investors have recently added to or reduced their stakes in UNM. Versant Capital Management Inc increased its position in shares of Unum Group by 361.5% during the second quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 394 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Unum Group during the 2nd quarter valued at about $26,000. Salomon & Ludwin LLC bought a new position in shares of Unum Group in the first quarter worth $28,000. 1620 Investment Advisors Inc. purchased a new position in shares of Unum Group during the second quarter worth about $29,000. Finally, MCF Advisors LLC bought a new position in shares of Unum Group in the 1st quarter worth $35,000. 86.57% of the stock is owned by institutional investors and hedge funds.

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.