Unum Group (NYSE:UNM) Price Target Raised to $52.00

Unum Group (NYSE:UNM) had its price target hoisted by Morgan Stanley from $50.00 to $52.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on the company. StockNews.com upgraded Unum Group from a hold rating to a buy rating in a research report on Wednesday, January 31st. Wells Fargo & Company increased their target price on Unum Group from $64.00 to $66.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. increased their target price on Unum Group from $56.00 to $58.00 and gave the stock an overweight rating in a research report on Tuesday, April 2nd. Finally, The Goldman Sachs Group increased their price objective on Unum Group from $47.00 to $52.00 and gave the stock a neutral rating in a research report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $56.38.

Unum Group Price Performance

Unum Group stock opened at $50.16 on Monday. Unum Group has a 12 month low of $40.04 and a 12 month high of $54.57. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.36. The business’s 50 day simple moving average is $50.89 and its 200 day simple moving average is $47.56. The company has a market cap of $9.63 billion, a price-to-earnings ratio of 7.73, a PEG ratio of 1.00 and a beta of 0.87.

Unum Group (NYSE:UNM) last posted its earnings results on Tuesday, January 30th. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.86 by ($0.07). The company had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Unum Group had a return on equity of 16.03% and a net margin of 10.36%. The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 EPS. Sell-side analysts forecast that Unum Group will post 8.18 EPS for the current year.

Unum Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, April 26th will be given a $0.365 dividend. The ex-dividend date is Thursday, April 25th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 2.91%. Unum Group’s dividend payout ratio (DPR) is presently 22.50%.

Insider Buying and Selling

In related news, EVP Elizabeth Claire Ahmed sold 5,000 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $50.00, for a total value of $250,000.00. Following the transaction, the executive vice president now owns 55,450 shares of the company’s stock, valued at $2,772,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Elizabeth Claire Ahmed sold 5,000 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $50.00, for a total value of $250,000.00. Following the transaction, the executive vice president now owns 55,450 shares of the company’s stock, valued at $2,772,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven Andrew Zabel sold 10,000 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $51.06, for a total value of $510,600.00. Following the completion of the transaction, the chief financial officer now directly owns 122,246 shares in the company, valued at approximately $6,241,880.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,000 shares of company stock worth $4,018,100. Corporate insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of UNM. Norges Bank bought a new position in shares of Unum Group during the fourth quarter valued at about $590,489,000. Royal Bank of Canada grew its stake in shares of Unum Group by 401.2% during the second quarter. Royal Bank of Canada now owns 1,639,336 shares of the financial services provider’s stock valued at $78,196,000 after buying an additional 1,312,286 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Unum Group by 63.6% during the fourth quarter. AQR Capital Management LLC now owns 2,504,307 shares of the financial services provider’s stock valued at $102,752,000 after buying an additional 973,311 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of Unum Group by 583.3% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,025,000 shares of the financial services provider’s stock valued at $50,420,000 after buying an additional 875,000 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Unum Group by 79.8% in the fourth quarter. Nordea Investment Management AB now owns 1,952,763 shares of the financial services provider’s stock worth $88,616,000 after purchasing an additional 866,531 shares during the last quarter. 86.57% of the stock is owned by institutional investors.

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.