Unum Group (NYSE:UNM) Price Target Cut to $72.00

Unum Group (NYSE:UNM) had its price target lowered by Barclays from $73.00 to $72.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price points to a potential upside of 18.79% from the company’s previous close.

A number of other brokerages have also recently issued reports on UNM. Piper Sandler restated an “overweight” rating and set a $66.00 price objective (up previously from $64.00) on shares of Unum Group in a report on Friday, September 27th. Evercore ISI boosted their price target on Unum Group from $56.00 to $58.00 and gave the company an “in-line” rating in a research note on Wednesday, June 26th. Truist Financial increased their price objective on Unum Group from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company upped their price target on shares of Unum Group from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Finally, Jefferies Financial Group lifted their price objective on shares of Unum Group from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Three 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 an average rating of “Moderate Buy” and an average price target of $63.50.

Unum Group Stock Performance

Shares of UNM traded down $0.56 during mid-day trading on Tuesday, reaching $60.61. The company’s stock had a trading volume of 478,551 shares, compared to its average volume of 1,242,164. Unum Group has a 1-year low of $41.75 and a 1-year high of $61.72. The business has a 50-day simple moving average of $55.67 and a two-hundred day simple moving average of $53.26. 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 $11.26 billion, a P/E ratio of 9.01, a PEG ratio of 0.91 and a beta of 0.77.

Unum Group (NYSE:UNM) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $2.16 EPS for the quarter, beating the consensus estimate of $2.02 by $0.14. The firm had revenue of $3.23 billion for 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 company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.06 earnings per share. As a group, equities research analysts anticipate that Unum Group will post 8.48 earnings per share for the current fiscal year.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Unum Group

A number of hedge funds and other institutional investors have recently bought and sold shares of UNM. Versant Capital Management Inc raised its position in Unum Group by 361.5% in the 2nd quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 394 shares during the period. V Square Quantitative Management LLC purchased a new stake in Unum Group during the 2nd quarter valued at about $26,000. Salomon & Ludwin LLC bought a new position in Unum Group during the 1st quarter worth approximately $28,000. 1620 Investment Advisors Inc. purchased a new position in Unum Group in the 2nd quarter worth approximately $29,000. Finally, MCF Advisors LLC bought a new position in shares of Unum Group in the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 86.57% of the company’s stock.

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.