Unum Group (NYSE:UNM) Price Target Raised to $70.00 at Truist Financial

Unum Group (NYSE:UNM) had its target price hoisted by Truist Financial from $62.00 to $70.00 in a report issued on Thursday morning, Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Unum Group from $64.00 to $65.00 and gave the stock an overweight rating in a research report on Wednesday, July 31st. Morgan Stanley boosted their price objective on Unum Group from $50.00 to $52.00 and gave the stock an equal weight rating in a report on Monday, April 15th. Piper Sandler initiated coverage on shares of Unum Group in a research report on Thursday, July 11th. They set an overweight rating and a $57.00 target price for the company. 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. Finally, Citigroup upped their target price on shares of Unum Group from $62.00 to $69.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $61.44.

Unum Group Stock Performance

Shares of UNM opened at $53.90 on Thursday. Unum Group has a 52-week low of $41.75 and a 52-week high of $58.17. The stock’s 50-day simple moving average is $51.98 and its 200 day simple moving average is $51.07. 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 stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of 8.01, a price-to-earnings-growth ratio of 0.79 and a beta of 0.81.

Unum Group (NYSE:UNM) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.14. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.23 billion. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. Unum Group’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $2.06 earnings per share. Research analysts forecast that Unum Group will post 8.51 EPS for the current fiscal year.

Unum Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Friday, July 26th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.12%. 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 (DPR) is presently 24.96%.

Insider Buying and Selling at Unum Group

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

Hedge Funds Weigh In On Unum Group

A number of institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in shares of Unum Group by 7.1% during the 1st quarter. GAMMA Investing LLC now owns 3,071 shares of the financial services provider’s stock valued at $165,000 after acquiring an additional 204 shares during the last quarter. QRG Capital Management Inc. lifted its position in Unum Group by 1.8% during the second quarter. QRG Capital Management Inc. now owns 12,786 shares of the financial services provider’s stock valued at $654,000 after purchasing an additional 226 shares during the period. FinTrust Capital Advisors LLC boosted its holdings in Unum Group by 20.4% in the first quarter. FinTrust Capital Advisors LLC now owns 1,457 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 247 shares during the last quarter. Bank of Nova Scotia raised its stake in Unum Group by 2.8% during the 4th quarter. Bank of Nova Scotia now owns 9,193 shares of the financial services provider’s stock valued at $416,000 after buying an additional 249 shares during the last quarter. Finally, XML Financial LLC lifted its holdings in shares of Unum Group by 1.3% during the 1st quarter. XML Financial LLC now owns 19,630 shares of the financial services provider’s stock valued at $1,053,000 after buying an additional 250 shares during the period. 86.57% of the stock is owned by institutional investors.

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.