Compass Point Downgrades Unum Group (UNM) to Neutral
Unum Group (NYSE:UNM) was downgraded by Compass Point from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday. They currently have a $42.00 price objective on the stock. Compass Point’s price target indicates a potential downside of 0.05% from the stock’s current price. The analysts noted that the move was a valuation call.
Other equities research analysts have also recently issued reports about the company. Royal Bank Of Canada boosted their price objective on Unum Group from $36.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, November 15th. Zacks Investment Research cut Unum Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 15th. RBC Capital Markets restated an “outperform” rating and issued a $43.00 price objective (up from $36.00) on shares of Unum Group in a research note on Tuesday, November 15th. Goldman Sachs Group Inc. upped their price target on Unum Group from $30.00 to $33.00 and gave the company a “sell” rating in a research report on Friday, September 23rd. Finally, FBR & Co upped their price target on Unum Group from $31.00 to $40.00 and gave the company an “underperform” rating in a research report on Monday. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. Unum Group currently has a consensus rating of “Hold” and an average target price of $38.60.
Shares of Unum Group (NYSE:UNM) opened at 42.02 on Monday. The stock has a 50 day moving average of $38.25 and a 200-day moving average of $35.24. The firm has a market capitalization of $9.75 billion, a P/E ratio of 11.03 and a beta of 1.50. Unum Group has a 1-year low of $23.99 and a 1-year high of $43.47.
Unum Group (NYSE:UNM) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the previous year, the business posted $0.83 EPS. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts expect that Unum Group will post $3.89 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, October 31st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Thursday, October 27th. Unum Group’s dividend payout ratio is currently 20.94%.
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In other Unum Group news, EVP Christopher J. Jerome sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $41.49, for a total value of $331,920.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas R. Watjen sold 178,927 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $35.56, for a total value of $6,362,644.12. The disclosure for this sale can be found here. 0.62% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the company. Barometer Capital Management Inc. bought a new stake in Unum Group during the second quarter worth $480,000. Nisa Investment Advisors LLC raised its stake in Unum Group by 30.3% in the second quarter. Nisa Investment Advisors LLC now owns 77,373 shares of the company’s stock worth $2,460,000 after buying an additional 17,970 shares during the period. MAI Capital Management raised its stake in Unum Group by 5.3% in the second quarter. MAI Capital Management now owns 6,862 shares of the company’s stock worth $218,000 after buying an additional 344 shares during the period. Legacy Private Trust Co. bought a new stake in Unum Group during the second quarter worth $549,000. Finally, Foundry Partners LLC raised its stake in Unum Group by 3.8% in the second quarter. Foundry Partners LLC now owns 396,469 shares of the company’s stock worth $12,604,000 after buying an additional 14,545 shares during the period. 92.81% of the stock is owned by institutional investors and hedge funds.
About Unum Group
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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