UBS Group Upgrades Unum Group (NYSE:UNM) to Hold

Unum Group (NYSE:UNM) was upgraded by research analysts at UBS Group to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

UNM has been the subject of a number of other research reports. Piper Sandler reissued an “overweight” rating and set a $66.00 price objective (up previously from $64.00) on shares of Unum Group in a research note on Friday, September 27th. Barclays dropped their price objective on Unum Group from $73.00 to $72.00 and set an “overweight” rating for the company in a research note on Tuesday. Jefferies Financial Group increased their price objective on Unum Group from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Evercore ISI raised their price target on Unum Group from $56.00 to $58.00 and gave the stock an “in-line” rating in a research note on Wednesday, June 26th. Finally, Wells Fargo & Company raised their price target on Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.64.

Unum Group Stock Up 0.0 %

Shares of UNM opened at $61.68 on Wednesday. The firm has a market cap of $11.46 billion, a P/E ratio of 9.07, a P/E/G ratio of 0.91 and a beta of 0.77. The stock has a 50 day simple moving average of $55.98 and a two-hundred day simple moving average of $53.43. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.28 and a quick ratio of 0.28. Unum Group has a 1 year low of $41.75 and a 1 year high of $62.21.

Unum Group (NYSE:UNM) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.14. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.23 billion. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.06 earnings per share. On average, analysts forecast that Unum Group will post 8.47 earnings per share for the current fiscal year.

Unum Group declared that its board has initiated a share repurchase program on Tuesday, July 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 10% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $54.11, for a total value of $541,100.00. Following the completion of the transaction, the executive vice president now owns 64,821 shares in the company, valued at approximately $3,507,464.31. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Richard P. Mckenney sold 67,795 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $54.98, for a total transaction of $3,727,369.10. Following the completion of the transaction, the chief executive officer now directly owns 1,065,868 shares in the company, valued at $58,601,422.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total value of $541,100.00. Following the transaction, the executive vice president now owns 64,821 shares of the company’s stock, valued at $3,507,464.31. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Unum Group

Several institutional investors and hedge funds have recently modified their holdings of UNM. GAMMA Investing LLC increased its holdings in Unum Group by 7.1% in the 1st quarter. GAMMA Investing LLC now owns 3,071 shares of the financial services provider’s stock worth $165,000 after buying an additional 204 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in Unum Group by 2.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 10,126 shares of the financial services provider’s stock worth $518,000 after buying an additional 217 shares in the last quarter. QRG Capital Management Inc. increased its holdings in Unum Group by 1.8% in the 2nd quarter. QRG Capital Management Inc. now owns 12,786 shares of the financial services provider’s stock worth $654,000 after buying an additional 226 shares in the last quarter. FinTrust Capital Advisors LLC increased its holdings in Unum Group by 20.4% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,457 shares of the financial services provider’s stock worth $78,000 after buying an additional 247 shares in the last quarter. Finally, XML Financial LLC increased its holdings in Unum Group by 1.3% in the 1st quarter. XML Financial LLC now owns 19,630 shares of the financial services provider’s stock worth $1,053,000 after buying an additional 250 shares in the last quarter. 86.57% of the stock is currently 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.