Unum Group (UNM) Rating Reiterated by RBC Capital Markets
Unum Group (NYSE:UNM)‘s stock had its “outperform” rating restated by investment analysts at RBC Capital Markets in a research report issued on Tuesday. They presently have a $43.00 price objective on the stock, up from their previous price objective of $36.00. RBC Capital Markets’ target price would indicate a potential upside of 3.69% from the company’s previous close.
Several other equities analysts have also weighed in on the company. Zacks Investment Research raised Unum Group from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Tuesday, September 27th. Goldman Sachs Group Inc. increased their target price on Unum Group from $30.00 to $33.00 and gave the company a “sell” rating in a research note on Friday, September 23rd. Credit Suisse Group AG initiated coverage on Unum Group in a research note on Friday, October 7th. They issued a “neutral” rating and a $42.00 target price on the stock. Royal Bank Of Canada increased their target price on Unum Group from $36.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Wells Fargo & Co. initiated coverage on Unum Group in a research note on Thursday, September 22nd. They issued a “market perform” rating on the stock. 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 stock. The company has a consensus rating of “Hold” and a consensus price target of $37.21.
Shares of Unum Group (NYSE:UNM) opened at 41.47 on Tuesday. Unum Group has a 52 week low of $23.99 and a 52 week high of $42.26. The company has a 50 day moving average price of $36.78 and a 200 day moving average price of $34.76. The company has a market cap of $9.63 billion, a PE ratio of 10.88 and a beta of 1.50.
Unum Group (NYSE:UNM) last released its earnings results on Wednesday, October 26th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. Unum Group had a return on equity of 10.24% and a net margin of 8.29%. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the prior year, the firm posted $0.83 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, equities analysts expect that Unum Group will post $3.89 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Monday, October 31st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Thursday, October 27th. Unum Group’s dividend payout ratio (DPR) is 20.94%.
In other news, Director Thomas R. Watjen sold 178,927 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $35.56, for a total value of $6,362,644.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO John F. Mcgarry sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $41.44, for a total transaction of $497,280.00. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the stock. Mizuho Asset Management Co. Ltd. increased its stake in Unum Group by 100.7% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,876 shares of the company’s stock worth $123,000 after buying an additional 1,945 shares during the period. Johnson Financial Group Inc. increased its stake in Unum Group by 514.2% in the second quarter. Johnson Financial Group Inc. now owns 3,906 shares of the company’s stock worth $124,000 after buying an additional 3,270 shares during the period. Bellwether Investment Group LLC bought a new stake in Unum Group during the second quarter worth about $133,000. Point72 Asia Hong Kong Ltd bought a new stake in Unum Group during the second quarter worth about $134,000. Finally, Pacer Advisors Inc. increased its stake in Unum Group by 9.8% in the second quarter. Pacer Advisors Inc. now owns 4,288 shares of the company’s stock worth $136,000 after buying an additional 384 shares during the period. 93.91% of the stock is currently owned by institutional investors and hedge funds.
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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