Unum Group (NYSE:UNM) Upgraded to Strong-Buy at Raymond James

Raymond James upgraded shares of Unum Group (NYSE:UNM) from a market perform rating to a strong-buy rating in a research report sent to investors on Wednesday, Marketbeat.com reports. The firm currently has $108.00 price target on the financial services provider’s stock.

Several other analysts have also commented on UNM. Piper Sandler increased their price objective on Unum Group from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Evercore ISI upgraded Unum Group from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $67.00 to $84.00 in a report on Thursday, November 14th. BMO Capital Markets increased their price objective on Unum Group from $95.00 to $102.00 and gave the company an “outperform” rating in a report on Monday. Jefferies Financial Group increased their price objective on Unum Group from $91.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $79.00 target price (up from $74.00) on shares of Unum Group in a research report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $86.62.

Unum Group Stock Up 4.4 %

Unum Group stock opened at $81.34 on Wednesday. The business has a fifty day moving average of $75.20 and a two-hundred day moving average of $68.18. 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 firm has a market cap of $14.85 billion, a P/E ratio of 8.59, a P/E/G ratio of 1.14 and a beta of 0.80. Unum Group has a twelve month low of $48.38 and a twelve month high of $83.96.

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

Unum Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 24th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.07%. The ex-dividend date was Friday, January 24th. Unum Group’s dividend payout ratio is currently 17.74%.

Unum Group announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 7.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Unum Group news, EVP Lisa G. Iglesias sold 7,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $82.75, for a total transaction of $579,250.00. Following the sale, the executive vice president now directly owns 31,284 shares of the company’s stock, valued at approximately $2,588,751. This trade represents a 18.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard P. Mckenney sold 50,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the sale, the chief executive officer now directly owns 980,637 shares in the company, valued at approximately $80,402,427.63. The trade was a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is owned by insiders.

Institutional Investors Weigh In On Unum Group

Several hedge funds have recently modified their holdings of UNM. Barrett & Company Inc. boosted its stake in shares of Unum Group by 300.0% during the 4th quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 297 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Unum Group during the 3rd quarter worth about $31,000. Kestra Investment Management LLC purchased a new stake in shares of Unum Group during the 4th quarter worth about $38,000. Millstone Evans Group LLC purchased a new stake in shares of Unum Group during the 4th quarter worth about $45,000. Finally, Quarry LP boosted its stake in shares of Unum Group by 4,794.7% during the 3rd quarter. Quarry LP now owns 930 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 911 shares in the last quarter. 86.57% of the stock is owned by hedge funds and other institutional investors.

About Unum Group

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.