Unum Group (NYSE:UNM) Given New $69.00 Price Target at Citigroup

Unum Group (NYSE:UNM) had its price objective raised by Citigroup from $62.00 to $69.00 in a report issued on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

UNM has been the subject of a number of other reports. JPMorgan Chase & Co. raised their price target on Unum Group from $58.00 to $64.00 and gave the stock an overweight rating in a report on Tuesday, July 2nd. Evercore ISI lifted their price objective on Unum Group from $56.00 to $58.00 and gave the company an in-line rating in a research note on Wednesday, June 26th. Morgan Stanley lifted their price objective on Unum Group from $50.00 to $52.00 and gave the company an equal weight rating in a research note on Monday, April 15th. Piper Sandler started coverage on Unum Group in a research note on Thursday, July 11th. They set an overweight rating and a $57.00 price objective for the company. Finally, Wells Fargo & Company lifted their price objective on Unum Group from $64.00 to $66.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $60.44.

Unum Group Stock Up 0.5 %

UNM stock opened at $53.24 on Tuesday. Unum Group has a twelve month low of $41.75 and a twelve month high of $54.66. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.34. The stock’s 50 day moving average is $51.72 and its 200-day moving average is $50.63. The firm has a market capitalization of $10.08 billion, a PE ratio of 7.91, a P/E/G ratio of 1.06 and a beta of 0.81.

Unum Group (NYSE:UNM) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.15. Unum Group had a return on equity of 16.02% and a net margin of 10.52%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same period last year, the business posted $1.87 earnings per share. Unum Group’s revenue was up 5.4% on a year-over-year basis. Sell-side analysts expect that Unum Group will post 8.25 EPS for the current fiscal year.

Unum Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, July 26th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.16%. This is a positive change from Unum Group’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, July 26th. Unum Group’s dividend payout ratio is 21.69%.

Insider Transactions at Unum Group

In other Unum Group news, Director Timothy F. Keaney sold 8,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $52.61, for a total value of $420,880.00. Following the completion of the sale, the director now owns 37,505 shares in the company, valued at approximately $1,973,138.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Unum Group news, Director Timothy F. Keaney sold 8,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $52.61, for a total transaction of $420,880.00. Following the completion of the transaction, the director now owns 37,505 shares of the company’s stock, valued at approximately $1,973,138.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christopher W. Pyne sold 4,500 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $52.47, for a total transaction of $236,115.00. Following the transaction, the executive vice president now directly owns 56,262 shares of the company’s stock, valued at approximately $2,952,067.14. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in UNM. Versant Capital Management Inc increased its position in shares of Unum Group by 361.5% during the second quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 394 shares during the period. V Square Quantitative Management LLC bought a new position in Unum Group in the second quarter worth approximately $26,000. Salomon & Ludwin LLC bought a new position in Unum Group in the first quarter worth approximately $28,000. 1620 Investment Advisors Inc. bought a new position in Unum Group in the second quarter worth approximately $29,000. Finally, MCF Advisors LLC bought a new position in Unum Group in the first quarter worth approximately $35,000. Institutional investors own 86.57% of the company’s stock.

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.