Unum Group (NYSE:UNM) Stock Has Average Price Target of $96.92 According to Brokerages

Unum Group (NYSE:UNM) has received an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $96.92.

A number of analysts have recently issued reports on UNM shares. Barclays dropped their target price on Unum Group from $109.00 to $101.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 4th. Wells Fargo & Company increased their price target on Unum Group from $100.00 to $102.00 and gave the company an “overweight” rating in a report on Monday, October 12th. Keefe, Bruyette & Woods lowered their price objective on Unum Group from $108.00 to $97.00 and set an “outperform” rating for the company in a research note on Thursday. Atlantic Securities set a $88.00 target price on Unum Group in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. reduced their target price on Unum Group from $101.00 to $98.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd.

Insider Activity at Unum Group

In other Unum Group news, EVP Lisa Iglesias sold 4,000 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $94.44, for a total transaction of $377,760.00. Following the transaction, the executive vice president directly owned 25,453 shares in the company, valued at $2,403,781.32. This represents a 13.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Lynn Jr sold 2,188 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $94.31, for a total transaction of $206,350.28. Following the transaction, the chief accounting officer owned 8,154 shares in the company, valued at $769,003.74. This trade represents a 21.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,488 shares of company stock valued at $988,396 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Unum Group

Several large investors have recently modified their holdings of the stock. Laurel Wealth Advisors LLC acquired a new position in shares of Unum Group in the 3rd quarter valued at approximately $29,000. CX Institutional boosted its position in Unum Group by 57.8% during the 3rd quarter. CX Institutional now owns 352 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 129 shares during the last quarter. City State Bank acquired a new position in Unum Group during the 3rd quarter worth approximately $32,000. Ancora Advisors LLC bought a new position in shares of Unum Group during the 2nd quarter worth approximately $39,000. Finally, Trust Co. of Vermont acquired a new stake in shares of Unum Group in the second quarter valued at approximately $47,000. Institutional investors own 86.57% of the company’s stock.

Unum Group Price Performance

UNM opened at $76.58 on Friday. The business has a fifty day moving average of $91.32 and a 200 day moving average of $84.05. Unum Group has a 52-week low of $69.02 and a 52-week high of $96.77. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.35. The stock has a market cap of $11.87 billion, a P/E ratio of 54.31, a PEG ratio of 0.82 and a beta of 0.25.

Unum Group (NYSE:UNM) last released its earnings results on Tuesday, November 3rd. The financial services provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.04. The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $2.97 billion. Unum Group had a return on equity of 12.57% and a net margin of 1.94%. During the same period last year, the company earned $2.09 earnings per share. As a group, sell-side analysts anticipate that Unum Group will post 8.41 EPS for the current year.

Unum Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, October 30th will be paid a $0.5050 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, October 30th. Unum Group’s payout ratio is 143.26%.

Unum Group announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 26th that authorizes the company to repurchase $1 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 7% of its shares through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Unum Group News Roundup

Here are the key news stories impacting Unum Group this week:

• Positive Sentiment: Despite lowering their targets, Keefe, Bruyette & Woods kept an “outperform” rating at $97 and Truist Financial maintained a “buy” rating at $85. Both targets are above the $76.58 price cited in the coverage. Keefe, Bruyette & Woods target Truist target
• Neutral Sentiment: The earnings-call recap highlighted growth opportunities alongside risks, while a sector outlook identified potential support for accident and health insurers from underwriting exposure and digitalization, counterbalanced by medical-cost inflation and pricing pressure. Earnings call highlights Sector outlook
• Negative Sentiment: Unum’s Q3 report included a $419.7 million net loss, an SEC comment-letter process and a change in reserve methodology. Levi & Korsinsky and SueWallSt separately announced investigations into potential securities claims; these are allegations and investigations, not findings of wrongdoing. Levi & Korsinsky investigation notice SueWallSt investigation notice
• Negative Sentiment: KBW cut its price target from $108 to $97, and Truist reduced its target from $96 to $85. Coverage also reported that UNM shares fell below their 200-day moving average after an analyst downgrade—a technical signal that may weigh on sentiment. Moving-average and downgrade report

Unum Group Company Profile

Unum Group is an insurance holding company that provides employee benefits and related services, primarily to employers and their workers. Its offerings include group disability and life insurance, accident and critical illness coverage, and services that help employers manage employee leave and workplace absence.

Through its Unum and Colonial Life businesses, the company also provides voluntary benefits that employees can elect through their workplaces. In the United Kingdom, Unum offers workplace benefits including income protection, life insurance and critical illness coverage.

The company traces its roots to 1848, when Union Mutual was established in Maine.