Unum Group (NYSE:UNM) Downgraded to “Hold” Rating by StockNews.com

Unum Group (NYSE:UNM) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

UNM has been the subject of a number of other reports. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $79.00 price objective (up from $74.00) on shares of Unum Group in a report on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price target 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. Jefferies Financial Group lifted their price target on shares of Unum Group from $91.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Barclays upped their price objective on shares of Unum Group from $76.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company lifted their target price on shares of Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Unum Group presently has an average rating of “Moderate Buy” and an average price target of $86.62.

Unum Group Stock Down 2.2 %

UNM stock opened at $79.49 on Friday. The company’s 50 day moving average is $75.36 and its 200 day moving average is $68.27. The stock has a market cap of $14.52 billion, a price-to-earnings ratio of 8.39, a price-to-earnings-growth ratio of 1.14 and a beta of 0.80. 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 1-year low of $48.38 and a 1-year high of $83.96.

Unum Group (NYSE:UNM) last posted its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). Unum Group had a return on equity of 14.91% and a net margin of 13.81%. Sell-side analysts predict that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group announced that its Board of Directors has authorized a share repurchase plan 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 reacquire up to 7.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

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 sale, the executive vice president now directly owns 31,284 shares of the company’s stock, valued at $2,588,751. The trade was a 18.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Richard P. Mckenney sold 50,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $81.99, for a total value of $4,099,500.00. Following the completion of the sale, the chief executive officer now directly owns 980,637 shares in the company, valued at approximately $80,402,427.63. This represents a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Unum Group

A number of hedge funds have recently added to or reduced their stakes in UNM. Total Wealth Planning & Management Inc. bought a new position in Unum Group in the fourth quarter worth approximately $2,189,000. Jefferies Financial Group Inc. purchased a new stake in shares of Unum Group in the 4th quarter worth $4,166,000. Sculati Wealth Management LLC lifted its position in Unum Group by 0.5% during the fourth quarter. Sculati Wealth Management LLC now owns 38,901 shares of the financial services provider’s stock valued at $2,841,000 after purchasing an additional 200 shares in the last quarter. Leigh Baldwin & CO. LLC purchased a new position in Unum Group during the fourth quarter valued at $217,000. Finally, Challenger Wealth Management bought a new stake in Unum Group during the fourth quarter valued at about $258,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

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.