Truist Financial Boosts Unum Group (NYSE:UNM) Price Target to $75.00

Unum Group (NYSE:UNM) had its target price raised by Truist Financial from $70.00 to $75.00 in a report published on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

UNM has been the subject of several other reports. Piper Sandler reiterated an “overweight” rating and issued a $66.00 price objective (up from $64.00) on shares of Unum Group in a report on Friday, September 27th. Jefferies Financial Group lifted their price objective on Unum Group from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. reduced their price objective on Unum Group from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Morgan Stanley lifted their price objective on Unum Group from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Barclays lifted their price objective on Unum Group from $72.00 to $74.00 and gave the stock an “overweight” 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.09.

Unum Group Price Performance

Shares of NYSE:UNM opened at $64.08 on Friday. Unum Group has a 1-year low of $41.86 and a 1-year high of $64.97. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28. The business has a fifty day moving average price of $59.20 and a 200-day moving average price of $54.76. The company has a market capitalization of $11.70 billion, a PE ratio of 6.94, a PEG ratio of 0.94 and a beta of 0.76.

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

Unum Group declared that its board has authorized a share buyback plan on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 10% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Unum Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 25th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, October 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.62%. Unum Group’s payout ratio is currently 18.18%.

Insider Buying and Selling

In other Unum Group news, EVP Elizabeth Claire Ahmed sold 5,000 shares of Unum Group stock in a transaction that occurred 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 sale, the executive vice president now owns 58,741 shares of the company’s stock, valued at $3,768,822.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Richard P. Mckenney sold 67,795 shares of the business’s 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 transaction, the chief executive officer now owns 1,065,868 shares in the company, valued at $58,601,422.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were 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 of the company’s stock, valued at approximately $3,768,822.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,795 shares of company stock valued at $4,589,269. Corporate insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Unum Group

Hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB lifted its stake in shares of Unum Group by 51.7% during the 1st quarter. Nordea Investment Management AB now owns 2,961,539 shares of the financial services provider’s stock worth $158,590,000 after purchasing an additional 1,008,776 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Unum Group by 6,498.1% during the 1st quarter. ProShare Advisors LLC now owns 636,320 shares of the financial services provider’s stock worth $34,145,000 after purchasing an additional 626,676 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Unum Group by 62.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,119,870 shares of the financial services provider’s stock worth $57,237,000 after purchasing an additional 432,240 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Unum Group by 105.8% during the 1st quarter. Sei Investments Co. now owns 377,627 shares of the financial services provider’s stock worth $20,263,000 after purchasing an additional 194,125 shares during the last quarter. Finally, M&G Plc purchased a new stake in shares of Unum Group during the 1st quarter worth $8,988,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

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.