Unum Group (NYSE:UNM) Price Target Cut to $95.00 by Analysts at Wells Fargo & Company

Unum Group (NYSE:UNM) had its target price decreased by Wells Fargo & Company from $97.00 to $95.00 in a report published on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on UNM. Morgan Stanley raised their price target on shares of Unum Group from $80.00 to $84.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Barclays lifted their target price on shares of Unum Group from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. UBS Group increased their price target on Unum Group from $75.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods cut their price objective on Unum Group from $103.00 to $102.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Piper Sandler increased their target price on Unum Group from $87.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Unum Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.07.

Unum Group Price Performance

Shares of NYSE UNM opened at $73.82 on Thursday. The firm has a market cap of $13.05 billion, a P/E ratio of 7.80, a PEG ratio of 1.14 and a beta of 0.46. Unum Group has a twelve month low of $48.38 and a twelve month high of $84.48. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average of $77.81 and a 200 day moving average of $72.73.

Unum Group (NYSE:UNM) last posted its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.11). Unum Group had a return on equity of 14.91% and a net margin of 13.81%. As a group, research analysts expect that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.28%. Unum Group’s dividend payout ratio is currently 17.74%.

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

Insider Activity

In other Unum Group news, CEO Richard P. Mckenney sold 50,000 shares of the 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 $80,402,427.63. This trade represents a 4.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lisa G. Iglesias sold 7,000 shares of Unum Group stock in a transaction that occurred on Monday, March 3rd. The shares were 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. The trade was a 18.28 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Unum Group

Several institutional investors have recently bought and sold shares of UNM. Barrett & Company Inc. lifted its stake in Unum Group by 300.0% in the 4th quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 297 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Unum Group in the fourth quarter worth about $38,000. Millstone Evans Group LLC bought a new position in Unum Group during the fourth quarter valued at approximately $45,000. Versant Capital Management Inc grew its holdings in Unum Group by 26.4% during the 4th quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock valued at $56,000 after buying an additional 160 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Unum Group by 28.8% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 800 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 179 shares during the last quarter. 86.57% of the stock is owned by hedge funds and other 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.