Unum Group (NYSE:UNM) Given New $79.00 Price Target at Morgan Stanley

Unum Group (NYSE:UNM) had its price target trimmed by Morgan Stanley from $85.00 to $79.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

Several other research analysts also recently issued reports on UNM. Barclays set a $96.00 price target on Unum Group and gave the stock an “overweight” rating in a research note on Monday, July 7th. Wells Fargo & Company cut their price target on Unum Group from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $95.00 price target (down previously from $100.00) on shares of Unum Group in a research note on Thursday, July 31st. Evercore ISI cut their price target on Unum Group from $100.00 to $96.00 and set an “outperform” rating for the company in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lifted their price target on Unum Group from $87.00 to $96.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.15.

Unum Group Trading Up 0.4%

NYSE:UNM opened at $69.3920 on Monday. The company has a market capitalization of $11.82 billion, a PE ratio of 8.30, a price-to-earnings-growth ratio of 1.17 and a beta of 0.40. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.31. Unum Group has a 52-week low of $52.71 and a 52-week high of $84.48. The stock has a fifty day simple moving average of $76.84 and a 200-day simple moving average of $77.96.

Unum Group (NYSE:UNM) last released its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.16). The firm had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.35 billion. Unum Group had a return on equity of 13.44% and a net margin of 11.77%.The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $2.16 EPS. Unum Group has set its FY 2025 guidance at 8.500-8.50 EPS. On average, equities research analysts expect that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, July 25th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.7%. This is an increase from Unum Group’s previous quarterly dividend of $0.42. Unum Group’s dividend payout ratio is currently 22.01%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Unum Group during the 2nd quarter worth about $1,113,353,000. Balyasny Asset Management L.P. purchased a new stake in shares of Unum Group during the 4th quarter worth about $113,962,000. Zurich Insurance Group Ltd FI purchased a new stake in shares of Unum Group during the 4th quarter worth about $105,199,000. Invesco Ltd. grew its holdings in shares of Unum Group by 155.6% during the 1st quarter. Invesco Ltd. now owns 2,278,473 shares of the financial services provider’s stock worth $185,604,000 after purchasing an additional 1,387,139 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Unum Group during the 1st quarter worth about $93,287,000. 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.