Royal Bank Of Canada Boosts Unum Group (UNM) Price Target to $43.00
Several other brokerages have also recently weighed in on UNM. Morgan Stanley raised their price objective on Unum Group from $35.00 to $36.00 and gave the company an equal weight rating in a research note on Thursday, July 28th. Zacks Investment Research upgraded Unum Group from a sell rating to a hold rating in a research note on Friday, July 29th. Wells Fargo & Co. began coverage on Unum Group in a research note on Thursday, September 22nd. They set a market perform rating on the stock. Goldman Sachs Group Inc. raised their price objective on Unum Group from $30.00 to $33.00 and gave the company a sell rating in a research note on Friday, September 23rd. Finally, Credit Suisse Group AG began coverage on Unum Group in a research note on Friday, October 7th. They set a neutral rating and a $42.00 price objective on the stock. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $37.71.
Unum Group (NYSE:UNM) last issued its earnings results on Wednesday, October 26th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. Unum Group had a return on equity of 10.24% and a net margin of 8.29%. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period last year, the business earned $0.83 EPS. Unum Group’s quarterly revenue was up 4.0% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Monday, October 31st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, October 27th. Unum Group’s payout ratio is presently 20.94%.
In other Unum Group news, Director Thomas R. Watjen sold 178,927 shares of Unum Group stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $35.56, for a total transaction of $6,362,644.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christopher J. Jerome sold 8,000 shares of Unum Group stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $41.49, for a total value of $331,920.00. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of UNM. Scout Investments Inc. raised its position in Unum Group by 162.1% in the third quarter. Scout Investments Inc. now owns 450,244 shares of the company’s stock worth $15,898,000 after buying an additional 278,439 shares during the last quarter. LPL Financial LLC raised its position in Unum Group by 2.5% in the third quarter. LPL Financial LLC now owns 8,360 shares of the company’s stock worth $297,000 after buying an additional 203 shares during the last quarter. Crow Point Partners LLC bought a new position in Unum Group during the third quarter worth $193,000. Cornerstone Capital Management Holdings LLC. raised its position in Unum Group by 82.4% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 155,088 shares of the company’s stock worth $5,474,000 after buying an additional 70,077 shares during the last quarter. Finally, Kalos Management Inc. raised its position in Unum Group by 6.2% in the third quarter. Kalos Management Inc. now owns 52,804 shares of the company’s stock worth $1,865,000 after buying an additional 3,070 shares during the last quarter. 93.91% of the stock is 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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