Unum Group (UNM) Coverage Initiated by Analysts at Credit Suisse Group AG
Credit Suisse Group AG initiated coverage on shares of Unum Group (NYSE:UNM) in a research note released on Friday morning. The brokerage issued a neutral rating and a $42.00 price target on the stock.
A number of other brokerages have also recently issued reports on UNM. FBR & Co cut Unum Group from a market perform rating to an underperform rating and set a $31.00 target price for the company. in a research report on Monday, July 11th. Wells Fargo & Co. assumed coverage on Unum Group in a research report on Thursday, September 22nd. They issued a market perform rating for the company. Zacks Investment Research raised Unum Group from a hold rating to a buy rating and set a $39.00 price objective for the company in a research report on Tuesday, September 27th. Goldman Sachs Group Inc. cut Unum Group from a neutral rating to a sell rating and reduced their price objective for the company from $36.00 to $30.00 in a research report on Friday, July 15th. Finally, Morgan Stanley increased their price objective on Unum Group from $35.00 to $36.00 and gave the company an equal weight rating in a research report on Thursday, July 28th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $36.57.
Shares of Unum Group (NYSE:UNM) traded up 0.61% during trading on Friday, hitting $36.55. 417,668 shares of the stock traded hands. The company has a market cap of $8.58 billion, a price-to-earnings ratio of 10.07 and a beta of 1.50. Unum Group has a 52 week low of $23.99 and a 52 week high of $37.26. The firm’s 50-day moving average price is $35.20 and its 200-day moving average price is $33.77.
Unum Group (NYSE:UNM) last announced its earnings results on Wednesday, July 27th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.05. The firm earned $2.76 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Unum Group had a return on equity of 10.37% and a net margin of 8.07%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. On average, equities research analysts anticipate that Unum Group will post $3.86 earnings per share for the current year.
In other news, Director Thomas R. Watjen sold 40,000 shares of Unum Group stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $33.24, for a total transaction of $1,329,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.62% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC boosted its position in Unum Group by 35.8% in the third quarter. Advisory Services Network LLC now owns 26,100 shares of the company’s stock valued at $922,000 after buying an additional 6,877 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Unum Group during the second quarter valued at $305,000. Kentucky Retirement Systems acquired a new position in Unum Group during the second quarter valued at $643,000. KAMES CAPITAL plc acquired a new position in Unum Group during the second quarter valued at $809,000. Finally, Mason Street Advisors LLC acquired a new position in Unum Group during the second quarter valued at $1,018,000. Institutional investors and hedge funds own 93.67% of the company’s stock.
Unum Group Company Profile
Unum Group is a provider of disability insurance products in the United States and the United Kingdom. The Company provides a portfolio of other insurance products, including employer and employee paid group benefits, life insurance and other related services. Its segments are Unum US, Unum UK, Colonial Life, Closed Block and Corporate.
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