Unum Group (NYSE:UNM) Price Target Raised to $58.00

Unum Group (NYSE:UNM) had its price target boosted by Evercore ISI from $56.00 to $58.00 in a report issued on Wednesday, Benzinga reports. They currently have an in-line rating on the financial services provider’s stock.

UNM has been the topic of a number of other reports. Morgan Stanley lifted their price objective on shares of Unum Group from $50.00 to $52.00 and gave the company an equal weight rating in a research note on Monday, April 15th. Wells Fargo & Company lifted their price objective on shares of Unum Group from $64.00 to $66.00 and gave the company an overweight rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. lifted their price objective on shares of Unum Group from $56.00 to $58.00 and gave the company an overweight rating in a research note on Tuesday, April 2nd. Finally, Truist Financial lifted their price objective on shares of Unum Group from $57.00 to $62.00 and gave the company a buy rating in a research note on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $57.89.

Unum Group Stock Up 0.7 %

NYSE UNM opened at $51.09 on Wednesday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.34. Unum Group has a 1-year low of $41.75 and a 1-year high of $54.57. The company has a 50 day moving average of $51.66 and a 200-day moving average of $49.69. The company has a market cap of $9.68 billion, a price-to-earnings ratio of 7.59, a PEG ratio of 1.07 and a beta of 0.83.

Unum Group (NYSE:UNM) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.15. Unum Group had a net margin of 10.52% and a return on equity of 16.02%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the previous year, the business earned $1.87 earnings per share. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities research analysts expect that Unum Group will post 8.24 earnings per share for the current fiscal year.

Unum Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, April 26th were paid a dividend of $0.365 per share. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 2.86%. Unum Group’s payout ratio is presently 21.69%.

Insiders Place Their Bets

In related news, EVP Christopher W. Pyne sold 4,500 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $52.47, for a total value of $236,115.00. Following the sale, the executive vice president now owns 56,262 shares of the company’s stock, valued at $2,952,067.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Timothy F. Keaney sold 8,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $52.61, for a total value of $420,880.00. Following the sale, the director now owns 37,505 shares of the company’s stock, valued at $1,973,138.05. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Christopher W. Pyne sold 4,500 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $52.47, for a total transaction of $236,115.00. Following the completion of the transaction, the executive vice president now owns 56,262 shares in the company, valued at approximately $2,952,067.14. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Unum Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Silver Oak Securities Incorporated acquired a new position in Unum Group in the third quarter valued at $25,000. Contravisory Investment Management Inc. acquired a new position in shares of Unum Group during the fourth quarter valued at about $25,000. Salomon & Ludwin LLC acquired a new position in shares of Unum Group during the first quarter valued at about $28,000. MCF Advisors LLC acquired a new position in shares of Unum Group during the first quarter valued at about $35,000. Finally, Neo Ivy Capital Management acquired a new position in shares of Unum Group during the third quarter valued at about $36,000. Institutional investors and hedge funds 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.