Unum Group (NYSE:UNM) Price Target Raised to $85.00 at Barclays

Unum Group (NYSE:UNM) had its target price upped by analysts at Barclays from $76.00 to $85.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential upside of 15.93% from the stock’s current price.

A number of other research firms also recently weighed in on UNM. Bank of America upped their target price on Unum Group from $54.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Piper Sandler raised their target price on Unum Group from $74.00 to $82.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. lowered their target price on Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Truist Financial upped their price target on shares of Unum Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company boosted their price target on Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Unum Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.09.

Unum Group Stock Performance

NYSE:UNM traded up $0.22 on Monday, reaching $73.32. 305,744 shares of the company’s stock were exchanged, compared to its average volume of 862,467. The stock has a fifty day simple moving average of $72.04 and a 200-day simple moving average of $61.32. The firm has a market cap of $13.39 billion, a price-to-earnings ratio of 7.94, a P/E/G ratio of 1.06 and a beta of 0.81. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28. Unum Group has a 52 week low of $44.83 and a 52 week high of $77.63.

Unum Group (NYSE:UNM) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.94 EPS. As a group, sell-side analysts predict that Unum Group will post 8.54 earnings per share for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Unum Group

Several institutional investors have recently modified their holdings of the business. Capital Performance Advisors LLP acquired a new stake in Unum Group in the third quarter valued at $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Unum Group in the third quarter valued at approximately $37,000. V Square Quantitative Management LLC boosted its holdings in shares of Unum Group by 38.2% in the 3rd quarter. V Square Quantitative Management LLC now owns 702 shares of the financial services provider’s stock valued at $42,000 after buying an additional 194 shares in the last quarter. Versant Capital Management Inc lifted its position in Unum Group by 26.4% in the fourth quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 160 shares during the last quarter. Finally, William B. Walkup & Associates Inc. acquired a new position in Unum Group in the second quarter valued at $44,000. 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.