Unum Group (NYSE:UNM) Price Target Raised to $89.00 at Barclays

Unum Group (NYSE:UNM) had its price target lifted by Barclays from $85.00 to $89.00 in a report issued on Friday,Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

A number of other research analysts have also recently commented on the company. StockNews.com cut Unum Group from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Piper Sandler boosted their price target on shares of Unum Group from $87.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. BMO Capital Markets raised their price objective on shares of Unum Group from $95.00 to $102.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Keefe, Bruyette & Woods decreased their price objective on Unum Group from $103.00 to $102.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Morgan Stanley upped their price target on Unum Group from $80.00 to $84.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.36.

Unum Group Stock Up 2.0 %

Shares of NYSE:UNM opened at $75.28 on Friday. The company has a market capitalization of $13.31 billion, a PE ratio of 7.95, a price-to-earnings-growth ratio of 1.14 and a beta of 0.46. Unum Group has a 1 year low of $48.38 and a 1 year high of $84.48. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.28. The business has a fifty day moving average price of $77.81 and a two-hundred day moving average price of $72.73.

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%. Analysts forecast that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Friday, April 25th. Unum Group’s dividend payout ratio (DPR) is currently 17.74%.

Unum Group announced that its Board of Directors has approved a share repurchase program on Tuesday, February 18th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 7.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other Unum Group news, 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 transaction, the chief executive officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lisa G. Iglesias sold 7,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was 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 directly owns 31,284 shares in the company, valued at $2,588,751. This represents a 18.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

Institutional Trading of Unum Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Barrett & Company Inc. lifted its position 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 acquiring an additional 297 shares in the last quarter. Kestra Investment Management LLC bought a new position in shares of Unum Group during the fourth quarter valued at $38,000. Millstone Evans Group LLC purchased a new stake in shares of Unum Group during the fourth quarter valued at $45,000. Versant Capital Management Inc increased its holdings 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 buying an additional 160 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in Unum Group by 28.8% in the 4th 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 during the last quarter. 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.