UBS Group Has Lowered Expectations for Unum Group (NYSE:UNM) Stock Price

Unum Group (NYSE:UNM) had its target price lowered by UBS Group from $91.00 to $89.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

UNM has been the subject of a number of other reports. Piper Sandler upped their price target on shares of Unum Group from $87.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. increased their target price on shares of Unum Group from $81.00 to $87.00 and gave the company a “neutral” rating in a research note on Wednesday, April 2nd. Wells Fargo & Company increased their price target on shares of Unum Group from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Keefe, Bruyette & Woods dropped their price target on shares of Unum Group from $103.00 to $102.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Finally, BMO Capital Markets increased their price target on shares of Unum Group from $95.00 to $102.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Unum Group presently has an average rating of “Moderate Buy” and a consensus target price of $88.29.

Unum Group Trading Up 0.3%

Unum Group stock opened at $79.90 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.28. The company has a market capitalization of $13.93 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 1.14 and a beta of 0.38. Unum Group has a one year low of $48.38 and a one year high of $84.48. The company’s fifty day moving average price is $78.72 and its two-hundred day moving average price is $76.27.

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

Unum Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 25th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Friday, April 25th. Unum Group’s payout ratio is 19.79%.

Unum Group announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 7.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Unum Group

In related news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $80.00, for a total value of $800,000.00. Following the completion of the sale, the executive vice president now owns 51,170 shares of the company’s stock, valued at $4,093,600. This trade represents a 16.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Richard P. Mckenney sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the completion of the sale, the chief executive officer now directly owns 980,637 shares of the company’s stock, valued at approximately $80,402,427.63. This represents a 4.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,000 shares of company stock valued at $5,478,750 over the last quarter. Corporate insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Unum Group

A number of hedge funds and other institutional investors have recently bought and sold shares of UNM. Fifth Third Bancorp increased its stake in shares of Unum Group by 4.0% during the 1st quarter. Fifth Third Bancorp now owns 3,558 shares of the financial services provider’s stock worth $290,000 after purchasing an additional 136 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of Unum Group by 2.2% during the 4th quarter. Bessemer Group Inc. now owns 6,536 shares of the financial services provider’s stock worth $478,000 after purchasing an additional 143 shares during the last quarter. Kovitz Investment Group Partners LLC increased its stake in shares of Unum Group by 0.8% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 18,211 shares of the financial services provider’s stock worth $1,330,000 after purchasing an additional 147 shares during the last quarter. Private Trust Co. NA increased its stake in shares of Unum Group by 7.3% during the 1st quarter. Private Trust Co. NA now owns 2,757 shares of the financial services provider’s stock worth $225,000 after purchasing an additional 187 shares during the last quarter. Finally, QRG Capital Management Inc. increased its stake in shares of Unum Group by 1.4% during the 4th quarter. QRG Capital Management Inc. now owns 13,336 shares of the financial services provider’s stock worth $974,000 after purchasing an additional 189 shares during the last quarter. 86.57% of the stock is owned by institutional investors.

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.