Unum Group (NYSE:UNM) Stock Price Expected to Rise, Barclays Analyst Says

Unum Group (NYSE:UNM) had its price objective raised by stock analysts at Barclays from $72.00 to $74.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective would suggest a potential upside of 15.25% from the stock’s current price.

UNM has been the topic of several other research reports. Piper Sandler reiterated an “overweight” rating and issued a $66.00 target price (up previously from $64.00) on shares of Unum Group in a research report on Friday, September 27th. Bank of America lifted 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, October 10th. Truist Financial lifted their target price on shares of Unum Group from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Citigroup lifted their target price on shares of Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Wells Fargo & Company lifted their target price on shares of Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Unum Group presently has an average rating of “Moderate Buy” and an average price target of $65.64.

Unum Group Stock Down 0.3 %

UNM stock opened at $64.21 on Wednesday. The firm has a market cap of $12.16 billion, a PE ratio of 9.56, a P/E/G ratio of 0.91 and a beta of 0.77. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.28 and a current ratio of 0.28. The firm’s fifty day moving average is $58.61 and its 200 day moving average is $54.44. Unum Group has a one year low of $41.75 and a one year high of $64.91.

Unum Group (NYSE:UNM) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, beating the consensus estimate of $2.09 by $0.04. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the business earned $1.94 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. On average, research analysts forecast that Unum Group will post 8.49 EPS for the current year.

Unum Group declared that its Board of Directors has approved a share 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 shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group 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 directly owns 64,821 shares of the company’s stock, valued at $3,507,464.31. The trade was 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 the SEC website. In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard P. Mckenney sold 67,795 shares of Unum Group stock in a transaction dated Thursday, September 5th. The shares were 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 approximately $58,601,422.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is owned by insiders.

Institutional Investors Weigh In On Unum Group

A number of institutional investors have recently made changes to their positions 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 valued at $26,000 after acquiring an additional 394 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Unum Group in the second quarter valued at approximately $26,000. Salomon & Ludwin LLC acquired a new position in shares of Unum Group in the first quarter valued at approximately $28,000. 1620 Investment Advisors Inc. acquired a new position in shares of Unum Group in the second quarter valued at approximately $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Unum Group in the third quarter valued at approximately $37,000. 86.57% of the stock is currently 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.