Evercore ISI Boosts Unum Group (NYSE:UNM) Price Target to $66.00

Unum Group (NYSE:UNM) had its target price boosted by Evercore ISI from $59.00 to $66.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an in-line rating on the financial services provider’s stock.

A number of other equities analysts have also commented on the stock. Jefferies Financial Group increased their price target on shares of Unum Group from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Wells Fargo & Company raised their price target on Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. cut their price objective on Unum Group from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. UBS Group raised Unum Group to a “hold” rating in a report on Wednesday, October 9th. Finally, Citigroup upped their target price on Unum Group from $62.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.64.

Unum Group Trading Up 4.4 %

Shares of UNM stock opened at $64.37 on Wednesday. Unum Group has a 52-week low of $41.75 and a 52-week high of $64.91. The business’s fifty day moving average is $58.40 and its 200 day moving average is $54.37. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market capitalization of $12.19 billion, a PE ratio of 9.56, a price-to-earnings-growth ratio of 0.91 and a beta of 0.77.

Unum Group (NYSE:UNM) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.04. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the company posted $1.94 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities research analysts anticipate that Unum Group will post 8.49 EPS for the current fiscal year.

Unum Group announced that its Board of Directors has initiated a share repurchase program on Tuesday, July 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 10% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Unum Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 25th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, October 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.61%. Unum Group’s dividend payout ratio is currently 24.96%.

Insider Buying and Selling at Unum Group

In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $54.11, for a total transaction of $541,100.00. Following the completion of the transaction, the executive vice president now owns 64,821 shares of the company’s stock, valued at $3,507,464.31. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $54.98, for a total value of $3,727,369.10. Following the completion of the transaction, the chief executive officer now directly owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total value of $541,100.00. Following the sale, the executive vice president now directly owns 64,821 shares in the company, valued at approximately $3,507,464.31. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Unum Group

Several hedge funds have recently made changes to their positions in UNM. V Square Quantitative Management LLC raised its holdings in Unum Group by 38.2% in the third quarter. V Square Quantitative Management LLC now owns 702 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 194 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Unum Group by 2.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 10,126 shares of the financial services provider’s stock worth $518,000 after buying an additional 217 shares during the period. Global Retirement Partners LLC increased its stake in shares of Unum Group by 2.8% in the 3rd quarter. Global Retirement Partners LLC now owns 8,292 shares of the financial services provider’s stock worth $493,000 after acquiring an additional 224 shares in the last quarter. QRG Capital Management Inc. lifted its position in Unum Group by 1.8% during the 2nd quarter. QRG Capital Management Inc. now owns 12,786 shares of the financial services provider’s stock valued at $654,000 after acquiring an additional 226 shares during the period. Finally, FinTrust Capital Advisors LLC boosted its stake in Unum Group by 20.4% during the first quarter. FinTrust Capital Advisors LLC now owns 1,457 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 247 shares in the last quarter. 86.57% of the stock is currently 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.