Unum Group (NYSE:UNM) Upgraded at Raymond James

Raymond James upgraded shares of Unum Group (NYSE:UNM) from a market perform rating to a strong-buy rating in a report published on Wednesday, Marketbeat Ratings reports. Raymond James currently has $108.00 target price on the financial services provider’s stock.

A number of other research analysts have also weighed in on the stock. Jefferies Financial Group raised their target price 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. Morgan Stanley raised their target price on shares of Unum Group from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Keefe, Bruyette & Woods raised their target price on shares of Unum Group from $90.00 to $103.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Evercore ISI raised shares of Unum Group from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $67.00 to $84.00 in a research note on Thursday, November 14th. Finally, Piper Sandler raised their target price on shares of Unum Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.62.

Unum Group Trading Up 4.4 %

Shares of Unum Group stock opened at $81.34 on Wednesday. The firm has a market capitalization of $14.85 billion, a PE ratio of 8.59, a P/E/G ratio of 1.14 and a beta of 0.80. Unum Group has a twelve month low of $48.38 and a twelve month high of $83.96. The firm’s 50-day moving average price is $75.20 and its 200 day moving average price is $68.18. 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 (NYSE:UNM) last issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. On average, sell-side analysts predict that Unum Group will post 9.14 EPS for the current fiscal year.

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

Unum Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.68 annualized dividend and a yield of 2.07%. Unum Group’s dividend payout ratio (DPR) is presently 17.74%.

Insider Activity at Unum Group

In related news, CEO Richard P. Mckenney sold 50,000 shares of Unum Group stock in a transaction that occurred on Monday, March 3rd. The shares were 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 owns 980,637 shares in the company, valued at approximately $80,402,427.63. This trade represents a 4.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa G. Iglesias sold 7,000 shares of Unum Group stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $82.75, for a total transaction of $579,250.00. Following the completion of the sale, the executive vice president now owns 31,284 shares of the company’s stock, valued at $2,588,751. This trade represents a 18.28 % decrease in their position. The disclosure for this sale can be found here. 0.93% of the stock is owned by insiders.

Institutional Trading of Unum Group

Several institutional investors have recently added to or reduced their stakes in UNM. Barrett & Company Inc. increased its holdings 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 purchasing an additional 297 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Unum Group in the third quarter worth $31,000. Kestra Investment Management LLC acquired a new position in shares of Unum Group in the fourth quarter worth $38,000. Millstone Evans Group LLC acquired a new position in shares of Unum Group in the fourth quarter worth $45,000. Finally, Quarry LP grew its stake in shares of Unum Group by 4,794.7% in the third quarter. Quarry LP now owns 930 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 911 shares in the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

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.