Unum Group (NYSE:UNM) Coverage Initiated at Piper Sandler

Equities research analysts at Piper Sandler began coverage on shares of Unum Group (NYSE:UNM) in a research note issued on Thursday, MarketBeat.com reports. The firm set an “overweight” rating and a $57.00 price target on the financial services provider’s stock. Piper Sandler’s price objective suggests a potential upside of 9.76% from the company’s current price.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Unum Group from $58.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 2nd. Morgan Stanley boosted their target price on shares of Unum Group from $50.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Wells Fargo & Company boosted their target price on shares of Unum Group from $64.00 to $66.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Evercore ISI boosted their target price on shares of Unum Group from $56.00 to $58.00 and gave the company an “in-line” rating in a report on Wednesday, June 26th. Finally, Truist Financial boosted their target price on shares of Unum Group from $57.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Unum Group Stock Performance

NYSE UNM opened at $51.93 on Thursday. The firm’s fifty day moving average price is $51.55 and its two-hundred day moving average price is $50.13. The stock has a market cap of $9.83 billion, a PE ratio of 7.72, a PEG ratio of 1.09 and a beta of 0.81. Unum Group has a fifty-two week low of $41.75 and a fifty-two week high of $54.57. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.28 and a current ratio of 0.28.

Unum Group (NYSE:UNM) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.15. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Unum Group had a net margin of 10.52% and a return on equity of 16.02%. The company’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.87 earnings per share. On average, equities analysts expect that Unum Group will post 8.25 EPS for the current fiscal year.

Insider Activity

In other news, Director Timothy F. Keaney sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $52.61, for a total transaction of $420,880.00. Following the completion of the transaction, the director now directly owns 37,505 shares of the company’s stock, valued at approximately $1,973,138.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Timothy F. Keaney sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $52.61, for a total transaction of $420,880.00. Following the completion of the transaction, the director now directly owns 37,505 shares of the company’s stock, valued at approximately $1,973,138.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christopher W. Pyne sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $52.47, for a total transaction of $236,115.00. Following the completion of the transaction, the executive vice president now directly owns 56,262 shares of the company’s stock, valued at $2,952,067.14. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in Unum Group in the 4th quarter valued at $590,489,000. Nordea Investment Management AB boosted its holdings in Unum Group by 51.7% in the 1st quarter. Nordea Investment Management AB now owns 2,961,539 shares of the financial services provider’s stock valued at $158,590,000 after purchasing an additional 1,008,776 shares during the period. ProShare Advisors LLC boosted its holdings in Unum Group by 6,498.1% in the 1st quarter. ProShare Advisors LLC now owns 636,320 shares of the financial services provider’s stock valued at $34,145,000 after purchasing an additional 626,676 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Unum Group by 85.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 778,129 shares of the financial services provider’s stock worth $41,754,000 after acquiring an additional 357,475 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Unum Group by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 20,590,655 shares of the financial services provider’s stock worth $931,109,000 after acquiring an additional 300,840 shares during the last quarter. 86.57% of the stock is owned by institutional investors.

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.