Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Unum Group (NYSE:UNM) Stock

Unum Group (NYSE:UNM) had its price objective increased by stock analysts at Keefe, Bruyette & Woods from $90.00 to $103.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 26.91% from the company’s current price.

Several other research analysts have also weighed in on UNM. Truist Financial lifted their price objective on shares of Unum Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. reissued a “neutral” rating and set a $79.00 target price (up previously from $74.00) on shares of Unum Group in a research note on Tuesday, January 7th. BMO Capital Markets initiated coverage on Unum Group in a report on Thursday, January 23rd. They issued an “outperform” rating and a $91.00 target price on the stock. Evercore ISI upgraded Unum Group from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $67.00 to $84.00 in a report on Thursday, November 14th. Finally, Piper Sandler increased their target price on Unum Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.25.

Unum Group Price Performance

Shares of NYSE:UNM traded down $0.56 on Friday, reaching $81.16. 612,096 shares of the company traded hands, compared to its average volume of 1,153,960. Unum Group has a fifty-two week low of $48.38 and a fifty-two week high of $83.96. The company’s 50 day moving average is $74.73 and its 200-day moving average is $67.43. The stock has a market capitalization of $14.82 billion, a PE ratio of 8.59, a P/E/G ratio of 1.14 and a beta of 0.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.28.

Unum Group (NYSE:UNM) last released its quarterly earnings results 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 net margin of 13.81% and a return on equity of 14.91%. As a group, analysts anticipate that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 18th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 7.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Barrett & Company Inc. boosted its position in shares of Unum Group by 300.0% during 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 during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Unum Group during the third quarter valued at $31,000. Kestra Investment Management LLC purchased a new stake in Unum Group during the fourth quarter valued at $38,000. Millstone Evans Group LLC purchased a new stake in Unum Group during the fourth quarter valued at $45,000. Finally, Quarry LP increased its position in Unum Group by 4,794.7% during the third quarter. Quarry LP now owns 930 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 911 shares during the last quarter. 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.