JPMorgan Chase & Co. Cuts Unum Group (NYSE:UNM) Price Target to $92.00

Unum Group (NYSE:UNM) had its target price reduced by JPMorgan Chase & Co. from $94.00 to $92.00 in a report released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

Several other research firms have also recently issued reports on UNM. Wells Fargo & Company decreased their price objective on shares of Unum Group from $100.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, October 8th. Evercore ISI lowered their price objective on Unum Group from $100.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, July 30th. Wolfe Research upgraded Unum Group to a “strong-buy” rating in a research note on Tuesday, September 16th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $95.00 price target (down from $100.00) on shares of Unum Group in a report on Thursday, July 31st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Unum Group in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.67.

Unum Group Stock Performance

NYSE:UNM opened at $76.75 on Tuesday. The company’s 50-day moving average is $75.51 and its two-hundred day moving average is $76.89. Unum Group has a 1-year low of $66.81 and a 1-year high of $84.48. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market capitalization of $13.07 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 1.23 and a beta of 0.37.

Unum Group (NYSE:UNM) last announced its earnings results on Monday, November 3rd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.06). Unum Group had a net margin of 11.77% and a return on equity of 13.44%. The firm had revenue of $3.38 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same period in the previous year, the firm earned $2.13 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. Unum Group has set its FY 2025 guidance at EPS. Analysts forecast that Unum Group will post 9.14 EPS for the current year.

Unum Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 24th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, October 24th. Unum Group’s dividend payout ratio is currently 35.87%.

Hedge Funds Weigh In On Unum Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Stratos Wealth Partners LTD. increased its holdings in Unum Group by 28.3% in the first quarter. Stratos Wealth Partners LTD. now owns 3,802 shares of the financial services provider’s stock valued at $310,000 after purchasing an additional 838 shares during the last quarter. HighTower Advisors LLC boosted its stake in Unum Group by 0.3% during the 1st quarter. HighTower Advisors LLC now owns 60,370 shares of the financial services provider’s stock worth $4,918,000 after acquiring an additional 201 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Unum Group in the first quarter worth $646,000. Royal Bank of Canada raised its stake in Unum Group by 0.5% during the 1st quarter. Royal Bank of Canada now owns 1,416,124 shares of the financial services provider’s stock worth $115,358,000 after buying an additional 6,648 shares during the period. Finally, Raymond James Financial Inc. lifted its holdings in Unum Group by 8.1% during the first quarter. Raymond James Financial Inc. now owns 290,382 shares of the financial services provider’s stock worth $23,654,000 after acquiring an additional 21,770 shares in the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

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.