Unum Group (NYSE:UNM) Price Target Raised to $62.00

Unum Group (NYSE:UNM) had its price objective upped by analysts at Truist Financial from $57.00 to $62.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price objective indicates a potential upside of 20.58% from the company’s previous close.

Other analysts also recently issued reports about the company. The Goldman Sachs Group lifted their price target on Unum Group from $47.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, January 31st. Morgan Stanley upped their price target on shares of Unum Group from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Wells Fargo & Company raised their price objective on shares of Unum Group from $64.00 to $66.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. StockNews.com upgraded shares of Unum Group from a “hold” rating to a “buy” rating in a research report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Unum Group from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $57.38.

Unum Group Stock Performance

Shares of NYSE:UNM traded down $0.45 during trading on Thursday, reaching $51.42. The company had a trading volume of 109,793 shares, compared to its average volume of 1,393,656. The stock’s fifty day moving average price is $51.47 and its 200 day moving average price is $47.69. Unum Group has a fifty-two week low of $41.75 and a fifty-two week high of $54.57. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 7.64, a price-to-earnings-growth ratio of 1.02 and a beta of 0.87.

Unum Group (NYSE:UNM) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.15. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.20 billion. Unum Group had a net margin of 10.52% and a return on equity of 16.32%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.87 earnings per share. As a group, equities research analysts predict that Unum Group will post 8.18 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Steven Andrew Zabel sold 10,000 shares of the business’s stock in a transaction that occurred 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 owns 122,246 shares of the company’s stock, valued at $6,241,880.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Unum Group news, CFO Steven Andrew Zabel sold 10,000 shares of Unum Group stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $51.06, for a total value of $510,600.00. Following the completion of the sale, the chief financial officer now owns 122,246 shares in the company, valued at approximately $6,241,880.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth Claire Ahmed sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the sale, the executive vice president now owns 55,450 shares of the company’s stock, valued at $2,772,500. The disclosure for this sale can be found here. Insiders have sold 81,000 shares of company stock valued at $4,018,100 in the last ninety days. Insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Unum Group

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Unum Group by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 20,590,655 shares of the financial services provider’s stock valued at $931,109,000 after buying an additional 300,840 shares during the last quarter. Norges Bank acquired a new position in shares of Unum Group in the fourth quarter worth about $590,489,000. FMR LLC grew its stake in Unum Group by 1.9% during the 3rd quarter. FMR LLC now owns 12,585,614 shares of the financial services provider’s stock valued at $619,086,000 after purchasing an additional 236,136 shares in the last quarter. Donald Smith & CO. Inc. increased its holdings in Unum Group by 4.6% during the 4th quarter. Donald Smith & CO. Inc. now owns 3,687,182 shares of the financial services provider’s stock worth $166,734,000 after purchasing an additional 163,682 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Unum Group by 9.7% in the 3rd quarter. AQR Capital Management LLC now owns 3,545,767 shares of the financial services provider’s stock valued at $174,416,000 after purchasing an additional 313,482 shares in the last quarter. 86.57% of the stock is owned by institutional investors and hedge funds.

Unum Group Company Profile

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.