UBS Group Reiterates “$89.00” Price Target for Unum Group (NYSE:UNM)

Unum Group (NYSE:UNM) received a $89.00 price target from investment analysts at UBS Group in a research report issued on Friday, Marketbeat.com reports. The firm currently has a “neutral” rating on the financial services provider’s stock. UBS Group’s target price would suggest a potential upside of 11.39% from the company’s current price.

UNM has been the subject of a number of other reports. Piper Sandler upped their target price on Unum Group from $87.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Wall Street Zen lowered Unum Group from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Barclays upped their target price on Unum Group from $85.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday, April 11th. Wells Fargo & Company upped their target price on Unum Group from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Finally, BMO Capital Markets upped their target price on Unum Group from $95.00 to $102.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Unum Group currently has a consensus rating of “Moderate Buy” and an average target price of $88.29.

Unum Group Stock Up 0.3%

Shares of UNM stock opened at $79.90 on Friday. Unum Group has a 12 month low of $48.38 and a 12 month high of $84.48. The firm has a market cap of $13.93 billion, a PE ratio of 8.44, a price-to-earnings-growth ratio of 1.14 and a beta of 0.38. The stock has a 50 day moving average of $78.72 and a 200-day moving average of $76.36. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.15). The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.34 billion. Unum Group had a net margin of 13.81% and a return on equity of 14.91%. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.12 earnings per share. On average, equities analysts predict that Unum Group will post 9.14 EPS for the current year.

Unum Group announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 18th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 7.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Unum Group

In other news, EVP Lisa G. Iglesias sold 7,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $82.75, for a total transaction of $579,250.00. Following the sale, the executive vice president now owns 31,284 shares in the company, valued at approximately $2,588,751. This represents a 18.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard P. Mckenney sold 50,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $81.99, for a total value of $4,099,500.00. Following the sale, the chief executive officer now owns 980,637 shares in the company, valued at $80,402,427.63. The trade was a 4.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,000 shares of company stock worth $5,478,750. Insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Unum Group

Large investors have recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Unum Group during the first quarter valued at $30,000. Barrett & Company Inc. lifted its stake in shares of Unum Group by 300.0% during the fourth quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 297 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of Unum Group during the first quarter valued at $35,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Unum Group by 196.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 478 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 317 shares during the period. Finally, Kestra Investment Management LLC acquired a new position in shares of Unum Group during the fourth quarter valued at $38,000. Institutional investors and hedge funds own 86.57% of the company’s stock.

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.