Unum Group (NYSE:UNM) Shares Gap Up Following Analyst Upgrade

Shares of Unum Group (NYSE:UNMGet Rating) gapped up prior to trading on Wednesday after Morgan Stanley raised their price target on the stock from $34.00 to $37.00. The stock had previously closed at $31.36, but opened at $34.60. Morgan Stanley currently has an equal weight rating on the stock. Unum Group shares last traded at $35.82, with a volume of 7,087 shares changing hands.

Several other brokerages also recently issued reports on UNM. Barclays reduced their price objective on shares of Unum Group from $35.00 to $33.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 13th. Evercore ISI upped their price objective on shares of Unum Group from $35.00 to $37.00 and gave the company an “in-line” rating in a research note on Wednesday, July 6th. Citigroup started coverage on shares of Unum Group in a research note on Monday, May 23rd. They set a “neutral” rating and a $36.00 price objective on the stock. StockNews.com raised shares of Unum Group from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of Unum Group from $34.00 to $36.00 in a research note on Monday, July 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.56.

Insider Activity

In other news, EVP Christopher W. Pyne sold 7,149 shares of the firm’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $35.13, for a total value of $251,144.37. Following the transaction, the executive vice president now owns 50,781 shares of the company’s stock, valued at approximately $1,783,936.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Christopher W. Pyne sold 7,149 shares of the firm’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $35.13, for a total value of $251,144.37. Following the transaction, the executive vice president now owns 50,781 shares of the company’s stock, valued at approximately $1,783,936.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard P. Mckenney sold 35,271 shares of the firm’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $36.49, for a total transaction of $1,287,038.79. Following the completion of the transaction, the chief executive officer now directly owns 990,367 shares in the company, valued at approximately $36,138,491.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,453 shares of company stock valued at $1,789,121. Company insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Unum Group

Large investors have recently added to or reduced their stakes in the company. Virginia Retirement Systems ET AL grew its holdings in Unum Group by 1.8% during the 4th quarter. Virginia Retirement Systems ET AL now owns 432,500 shares of the financial services provider’s stock valued at $10,627,000 after purchasing an additional 7,500 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Unum Group by 3.3% during the 4th quarter. Mackenzie Financial Corp now owns 626,563 shares of the financial services provider’s stock valued at $15,395,000 after purchasing an additional 19,820 shares in the last quarter. CAPROCK Group Inc. acquired a new stake in Unum Group during the 1st quarter valued at $207,000. AE Wealth Management LLC grew its holdings in Unum Group by 27.9% during the 1st quarter. AE Wealth Management LLC now owns 11,832 shares of the financial services provider’s stock valued at $373,000 after purchasing an additional 2,584 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Unum Group by 51.1% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,300 shares of the financial services provider’s stock valued at $327,000 after purchasing an additional 4,500 shares in the last quarter. 85.36% of the stock is owned by institutional investors and hedge funds.

Unum Group Stock Performance

The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 6.45, a price-to-earnings-growth ratio of 0.52 and a beta of 1.29. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.29 and a current ratio of 0.29. The company’s fifty day simple moving average is $33.83 and its two-hundred day simple moving average is $31.51.

Unum Group (NYSE:UNMGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The financial services provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.55. The company had revenue of $2.98 billion during the quarter, compared to analyst estimates of $3.02 billion. Unum Group had a net margin of 9.29% and a return on equity of 9.56%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the business earned $1.04 EPS. Equities research analysts predict that Unum Group will post 5.16 earnings per share for the current fiscal year.

Unum Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Friday, July 29th will be issued a dividend of $0.33 per share. This is a positive change from Unum Group’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 3.75%. The ex-dividend date is Thursday, July 28th. Unum Group’s dividend payout ratio (DPR) is currently 24.18%.

About Unum Group

(Get Rating)

Unum Group, together with its subsidiaries, provides financial protection benefit solutions primarily in the United States, the United Kingdom, and Poland. It operates through Unum US, Unum International, Colonial Life, and Closed Block segments. 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.

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