Jefferies Financial Group Forecasts Strong Price Appreciation for Unum Group (NYSE:UNM) Stock

Unum Group (NYSE:UNM) had its price target hoisted by equities research analysts at Jefferies Financial Group from $91.00 to $96.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 31.69% from the stock’s current price.

A number of other analysts have also recently commented on UNM. Morgan Stanley lifted their target price on Unum Group from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Truist Financial lifted their price target on Unum Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $66.00 target price (up from $64.00) on shares of Unum Group in a report on Friday, September 27th. Wells Fargo & Company increased their price target on shares of Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, UBS Group raised shares of Unum Group to a “hold” rating in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.64.

Unum Group Stock Down 1.6 %

UNM stock traded down $1.15 during trading on Tuesday, hitting $72.90. 314,913 shares of the company’s stock were exchanged, compared to its average volume of 1,249,031. The business has a 50-day moving average price of $67.95 and a two-hundred day moving average price of $58.52. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $13.31 billion, a price-to-earnings ratio of 7.89, a PEG ratio of 1.07 and a beta of 0.79. Unum Group has a 52-week low of $43.04 and a 52-week high of $77.63.

Unum Group (NYSE:UNM) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.03. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.94 EPS. As a group, equities research analysts expect that Unum Group will post 8.53 EPS for the current year.

Insider Buying and Selling

In other Unum Group news, EVP Christopher W. Pyne sold 3,250 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $70.02, for a total transaction of $227,565.00. Following the transaction, the executive vice president now owns 50,762 shares of the company’s stock, valued at $3,554,355.24. This represents a 6.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $69.56, for a total value of $104,340.00. Following the completion of the transaction, the chief accounting officer now owns 8,361 shares of the company’s stock, valued at $581,591.16. The trade was a 15.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 107,914 shares of company stock worth $7,998,745 in the last ninety days. Insiders own 0.93% of the company’s stock.

Institutional Trading of Unum Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC grew its holdings in Unum Group by 8.0% in the second quarter. Wedge Capital Management L L P NC now owns 872,808 shares of the financial services provider’s stock valued at $44,609,000 after purchasing an additional 64,661 shares during the period. Van ECK Associates Corp acquired a new position in Unum Group in the second quarter valued at $3,945,000. My Legacy Advisors LLC purchased a new stake in Unum Group during the second quarter valued at about $473,000. CoreCap Advisors LLC acquired a new stake in Unum Group during the second quarter worth about $2,007,000. Finally, Artemis Investment Management LLP lifted its stake in shares of Unum Group by 11.9% in the 3rd quarter. Artemis Investment Management LLP now owns 232,751 shares of the financial services provider’s stock valued at $13,835,000 after purchasing an additional 24,664 shares in the last quarter. Hedge funds and other institutional investors 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.