Unum Group (NYSE:UNM) Rating Reiterated by Piper Sandler

Unum Group (NYSE:UNM)‘s stock had its “overweight” rating reissued by research analysts at Piper Sandler in a research note issued on Friday, Benzinga reports. They currently have a $66.00 price target on the financial services provider’s stock, up from their prior price target of $64.00. Piper Sandler’s price objective indicates a potential upside of 12.53% from the stock’s current price.

Several other brokerages also recently weighed in on UNM. Citigroup upped their target price on shares of Unum Group from $62.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Evercore ISI increased their price objective 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. Wells Fargo & Company increased their price objective on shares of Unum Group from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Truist Financial increased their price objective on shares of Unum Group from $62.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group increased their price objective on shares of Unum Group from $63.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.80.

Unum Group Trading Up 0.9 %

Shares of Unum Group stock opened at $58.65 on Friday. The company has a market capitalization of $10.90 billion, a P/E ratio of 8.71, a P/E/G ratio of 0.85 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 company has a fifty day moving average of $54.90 and a 200 day moving average of $52.91. Unum Group has a fifty-two week low of $41.75 and a fifty-two week high of $59.01.

Unum Group (NYSE:UNM) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.14. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.23 billion. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. Unum Group’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.06 EPS. On average, sell-side analysts anticipate that Unum Group will post 8.48 earnings per share for the current fiscal year.

Unum Group declared that its Board of Directors has initiated a stock buyback plan on Tuesday, July 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 10% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Unum Group

In other news, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group stock in a transaction on 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Timothy Gerald Arnold sold 10,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 64,821 shares of the company’s stock, valued at $3,507,464.31. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard P. Mckenney sold 67,795 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $54.98, for a total transaction of $3,727,369.10. Following the transaction, the chief executive officer now directly owns 1,065,868 shares of the company’s stock, valued at approximately $58,601,422.64. The disclosure for this sale can be found here. 0.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its holdings in Unum Group by 3.3% in the fourth quarter. BNP Paribas Financial Markets now owns 16,002 shares of the financial services provider’s stock valued at $724,000 after buying an additional 514 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Unum Group by 5.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 36,427 shares of the financial services provider’s stock valued at $1,647,000 after buying an additional 2,023 shares in the last quarter. Intech Investment Management LLC purchased a new position in Unum Group in the fourth quarter valued at $406,000. Hsbc Holdings PLC increased its holdings in Unum Group by 337.0% in the fourth quarter. Hsbc Holdings PLC now owns 189,308 shares of the financial services provider’s stock valued at $8,570,000 after buying an additional 145,993 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in Unum Group by 3.6% in the fourth quarter. Allianz Asset Management GmbH now owns 950,914 shares of the financial services provider’s stock valued at $43,000,000 after buying an additional 33,454 shares in the last quarter. Hedge funds and other institutional investors 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.