Unum Group (NYSE:UNM) Hits New 52-Week High – Here’s Why

Shares of Unum Group (NYSE:UNM) reached a new 52-week high on Tuesday . The stock traded as high as $64.97 and last traded at $64.87, with a volume of 910260 shares. The stock had previously closed at $64.08.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Unum Group from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Bank of America increased their price objective on shares of Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Evercore ISI boosted their target price on Unum Group from $59.00 to $66.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their price objective on Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, Morgan Stanley boosted their target price on shares of Unum Group from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Unum Group has an average rating of “Moderate Buy” and a consensus price target of $66.09.

Unum Group Stock Performance

The firm has a 50 day moving average price of $59.20 and a 200 day moving average price of $54.76. The stock has a market cap of $11.85 billion, a PE ratio of 6.95, a price-to-earnings-growth ratio of 0.94 and a beta of 0.76. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the firm posted $1.94 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, research analysts forecast that Unum Group will post 8.52 earnings per share for the current year.

Unum Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.68 annualized dividend and a yield of 2.59%. Unum Group’s dividend payout ratio (DPR) is presently 18.18%.

Unum Group declared that its board has approved a stock buyback program on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 10% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Unum Group news, EVP Elizabeth Claire Ahmed sold 5,000 shares of Unum Group stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $64.16, for a total value of $320,800.00. Following the transaction, the executive vice president now owns 58,741 shares in the company, valued at $3,768,822.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $54.98, for a total transaction of $3,727,369.10. Following the completion of the sale, the chief executive officer now owns 1,065,868 shares in the company, valued at approximately $58,601,422.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Elizabeth Claire Ahmed sold 5,000 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $64.16, for a total value of $320,800.00. Following the transaction, the executive vice president now owns 58,741 shares in the company, valued at approximately $3,768,822.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 82,795 shares of company stock worth $4,589,269 in the last three months. 0.93% of the stock is owned by insiders.

Institutional Investors Weigh In On Unum Group

Several institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Unum Group by 54.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,514 shares of the financial services provider’s stock valued at $4,150,000 after purchasing an additional 27,599 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Unum Group by 116.3% in the first quarter. BNP Paribas Financial Markets now owns 34,606 shares of the financial services provider’s stock worth $1,857,000 after buying an additional 18,604 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Unum Group by 3.9% during the first quarter. Janney Montgomery Scott LLC now owns 60,195 shares of the financial services provider’s stock worth $3,230,000 after buying an additional 2,280 shares during the period. Fidelis Capital Partners LLC purchased a new stake in Unum Group in the first quarter valued at approximately $129,000. Finally, Daiwa Securities Group Inc. increased its holdings in Unum Group by 625.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 5,800 shares of the financial services provider’s stock worth $311,000 after buying an additional 5,000 shares during the period. 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.