Unum Group (UNM) PT Raised to $40.00
Unum Group (NYSE:UNM) had its price target lifted by equities researchers at FBR & Co from $31.00 to $40.00 in a research report issued on Monday. The firm currently has an “underperform” rating on the stock. FBR & Co’s target price would suggest a potential downside of 4.81% from the stock’s previous close.
UNM has been the subject of several other reports. Zacks Investment Research upgraded Unum Group from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Thursday, November 17th. Credit Suisse Group AG initiated coverage on Unum Group in a research report on Friday, October 7th. They set a “neutral” rating and a $42.00 price target for the company. Wells Fargo & Co. initiated coverage on Unum Group in a research report on Thursday, September 22nd. They set a “market perform” rating for the company. Goldman Sachs Group Inc. raised their price target on Unum Group from $30.00 to $33.00 and gave the stock a “sell” rating in a research report on Friday, September 23rd. Finally, RBC Capital Markets restated an “outperform” rating and set a $43.00 price target (up from $36.00) on shares of Unum Group in a research report on Tuesday, November 15th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $38.60.
Unum Group (NYSE:UNM) opened at 42.02 on Monday. The stock has a market capitalization of $9.75 billion, a P/E ratio of 11.03 and a beta of 1.50. The company’s 50-day moving average price is $38.25 and its 200 day moving average price is $35.24. Unum Group has a 52 week low of $23.99 and a 52 week high of $43.47.
Unum Group (NYSE:UNM) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. The company earned $2.76 billion during the quarter, compared to analyst estimates of $2.74 billion. Unum Group had a return on equity of 10.24% and a net margin of 8.29%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.83 earnings per share. Equities research analysts expect that Unum Group will post $3.89 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Monday, October 31st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Thursday, October 27th. Unum Group’s dividend payout ratio (DPR) is currently 20.94%.
In other news, EVP Christopher J. Jerome sold 8,000 shares of Unum Group stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $41.49, for a total transaction of $331,920.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO John F. Mcgarry sold 12,000 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $41.44, for a total value of $497,280.00. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new position in Unum Group during the second quarter worth about $56,674,000. American Century Companies Inc. raised its position in Unum Group by 38.1% in the second quarter. American Century Companies Inc. now owns 5,279,960 shares of the company’s stock worth $167,850,000 after buying an additional 1,455,618 shares in the last quarter. Vanguard Group Inc. raised its position in Unum Group by 4.1% in the second quarter. Vanguard Group Inc. now owns 22,424,545 shares of the company’s stock worth $712,877,000 after buying an additional 875,760 shares in the last quarter. Principal Financial Group Inc. raised its position in Unum Group by 29.3% in the third quarter. Principal Financial Group Inc. now owns 2,739,136 shares of the company’s stock worth $96,719,000 after buying an additional 619,895 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Unum Group by 1,397.3% in the second quarter. First Trust Advisors LP now owns 647,599 shares of the company’s stock worth $20,587,000 after buying an additional 604,348 shares in the last quarter. 92.81% of the stock is currently owned by hedge funds and other institutional investors.
About Unum Group
Unum Group is a provider of disability insurance products in the United States and the United Kingdom. The Company provides a portfolio of other insurance products, including employer and employee paid group benefits, life insurance and other related services. Its segments are Unum US, Unum UK, Colonial Life, Closed Block and Corporate.
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