Piper Sandler Forecasts Strong Price Appreciation for Unum Group (NYSE:UNM) Stock

Unum Group (NYSE:UNM) had its price objective increased by Piper Sandler from $87.00 to $92.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price target would suggest a potential upside of 16.13% from the stock’s previous close.

UNM has been the topic of several other reports. Wells Fargo & Company raised their price target on Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods boosted their target price on shares of Unum Group from $90.00 to $103.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. StockNews.com downgraded shares of Unum Group from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Morgan Stanley lifted their price objective on shares of Unum Group from $80.00 to $84.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Finally, Barclays upped their target price on Unum Group from $76.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.86.

Unum Group Price Performance

Unum Group stock opened at $79.22 on Wednesday. The company has a market capitalization of $14.00 billion, a price-to-earnings ratio of 8.37, a PEG ratio of 1.14 and a beta of 0.74. The stock’s 50 day moving average is $78.27 and its 200-day moving average is $71.95. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. Unum Group has a 12 month low of $48.38 and a 12 month high of $84.48.

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

Unum Group declared that its board has authorized a share buyback plan on Tuesday, February 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Unum Group

In other news, EVP Lisa G. Iglesias sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $82.75, for a total value of $579,250.00. Following the transaction, the executive vice president now owns 31,284 shares in the company, valued at $2,588,751. The trade was a 18.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard P. Mckenney sold 50,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the sale, the chief executive officer now owns 980,637 shares of the company’s stock, valued at $80,402,427.63. This trade represents a 4.85 % decrease in their position. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Unum Group

Several institutional investors have recently added to or reduced their stakes in the business. Barrett & Company Inc. grew its stake 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 stake in shares of Unum Group during the 4th quarter valued at $38,000. Millstone Evans Group LLC purchased a new stake in Unum Group during the 4th quarter worth about $45,000. Versant Capital Management Inc boosted its stake in Unum Group by 26.4% in the 4th quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 160 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Unum Group by 28.8% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 800 shares of the financial services provider’s stock worth $58,000 after buying an additional 179 shares in the last quarter. 86.57% of the stock is owned by hedge funds and other institutional investors.

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.