Morgan Stanley Boosts Unum Group (NYSE:UNM) Price Target to $64.00

Unum Group (NYSE:UNM) had its target price hoisted by Morgan Stanley from $62.00 to $64.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

UNM has been the topic of several other research reports. UBS Group raised Unum Group to a “hold” rating in a research report on Wednesday, October 9th. Wells Fargo & Company boosted their price target on shares of Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Bank of America increased their price target on shares of Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Barclays lifted their price objective on shares of Unum Group from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Evercore ISI increased their target price on shares of Unum Group from $59.00 to $66.00 and gave the company an “in-line” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.09.

Unum Group Stock Down 0.1 %

UNM opened at $64.12 on Wednesday. Unum Group has a fifty-two week low of $41.75 and a fifty-two week high of $64.91. The firm has a market capitalization of $11.71 billion, a P/E ratio of 6.94, a PEG ratio of 0.94 and a beta of 0.76. The company’s 50-day moving average is $58.81 and its 200 day moving average is $54.51. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28.

Unum Group (NYSE:UNM) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.10 by $0.03. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the firm earned $1.94 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. Research analysts expect that Unum Group will post 8.52 earnings per share for the current fiscal year.

Unum Group announced that its board has authorized a share buyback program on Tuesday, July 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 10% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Unum Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.62%. Unum Group’s dividend payout ratio is currently 18.18%.

Insiders Place Their Bets

In other news, CEO Richard P. Mckenney sold 67,795 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $54.98, for a total transaction of $3,727,369.10. Following the completion of the transaction, the chief executive officer now directly owns 1,065,868 shares in the company, valued at $58,601,422.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 of the company’s stock, valued at approximately $3,507,464.31. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Richard P. Mckenney sold 67,795 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $54.98, for a total value of $3,727,369.10. Following the completion of the transaction, the chief executive officer now owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.

Institutional Trading of Unum Group

Several institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its stake in Unum Group by 361.5% in the 2nd quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 394 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Unum Group in the second quarter worth approximately $26,000. Salomon & Ludwin LLC bought a new position in shares of Unum Group in the first quarter worth approximately $28,000. Capital Performance Advisors LLP purchased a new position in shares of Unum Group in the third quarter worth $31,000. Finally, 1620 Investment Advisors Inc. bought a new stake in Unum Group during the 2nd quarter valued at $29,000. 86.57% of the stock is currently owned by hedge funds and other 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.