Unum Group (NYSE:UNM – Get Free Report)’s share price passed below its 200-day moving average during trading on Wednesday after Barclays lowered their price target on the stock from $109.00 to $101.00. The stock has a 200-day moving average of $84.05 and traded as low as $73.11. Barclays currently has an overweight rating on the stock. Unum Group shares last traded at $74.8650, with a volume of 10,117,447 shares changing hands.
Several other research analysts have also recently issued reports on UNM. UBS Group set a $94.00 price objective on shares of Unum Group in a report on Tuesday, July 7th. Wells Fargo & Company upped their target price on Unum Group from $100.00 to $102.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. JPMorgan Chase & Co. cut their target price on Unum Group from $101.00 to $98.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Unum Group in a research note on Monday, October 26th. Finally, Keefe, Bruyette & Woods lowered their price target on Unum Group from $110.00 to $108.00 and set an “outperform” rating on the stock in a research report on Thursday, July 30th. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Unum Group has a consensus rating of “Moderate Buy” and an average target price of $98.75.
Get Our Latest Research Report on UNM
Insiders Place Their Bets
In other news, Director Timothy F. Keaney sold 4,300 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $94.02, for a total transaction of $404,286.00. Following the sale, the director owned 36,502 shares in the company, valued at $3,431,918.04. The trade was a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lynn Jr sold 2,188 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $94.31, for a total value of $206,350.28. Following the completion of the sale, the chief accounting officer owned 8,154 shares of the company’s stock, valued at $769,003.74. The trade was a 21.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,488 shares of company stock worth $988,396 over the last ninety days. 1.00% of the stock is currently owned by company insiders.
More Unum Group News
Here are the key news stories impacting Unum Group this week:
- Positive Sentiment: Unum completed a $3.8 billion long-term-care reinsurance agreement with Fortitude Re, which may help manage its exposure to long-term-care liabilities. Fortitude Re agreement announcement
- Positive Sentiment: Adjusted third-quarter EPS of $2.20 beat analyst estimates. Premium growth and investment income helped, while Colonial Life was strong. Q3 earnings analysis
- Neutral Sentiment: Barclays lowered its price target from $109 to $101 but kept an Overweight rating, signaling continued optimism despite the reduction. Barclays target update
- Negative Sentiment: The quarter included a $419.7 million GAAP net loss, versus $39.7 million in net income a year earlier. An $853 million pretax investment loss, primarily from impairment charges, drove the result; elevated disability claims also weighed on performance. Unum Q3 results
- Negative Sentiment: Unum disclosed an SEC comment-letter process and a reserve-methodology change. Levi & Korsinsky also announced an investor investigation; the announcement is not a finding of wrongdoing, but adds uncertainty. Investor investigation notice
Institutional Trading of Unum Group
A number of institutional investors have recently added to or reduced their stakes in UNM. Dimensional Fund Advisors LP raised its holdings in Unum Group by 7.7% during the first quarter. Dimensional Fund Advisors LP now owns 4,084,382 shares of the financial services provider’s stock valued at $298,287,000 after buying an additional 292,670 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Unum Group in the second quarter worth about $84,097,000. Donald Smith & CO. Inc. acquired a new stake in shares of Unum Group in the second quarter worth about $58,064,000. Bank of America Corp DE bought a new stake in shares of Unum Group during the 2nd quarter worth about $55,273,000. Finally, Quantinno Capital Management LP boosted its stake in shares of Unum Group by 14.6% during the 1st quarter. Quantinno Capital Management LP now owns 754,335 shares of the financial services provider’s stock worth $55,089,000 after acquiring an additional 96,123 shares in the last quarter. 86.57% of the stock is currently owned by institutional investors and hedge funds.
Unum Group Stock Performance
The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market cap of $11.85 billion, a P/E ratio of 53.10, a P/E/G ratio of 0.88 and a beta of 0.25. The firm has a 50 day moving average price of $92.00 and a 200-day moving average price of $84.05.
Unum Group (NYSE:UNM – Get Free Report) last announced its earnings results on Tuesday, November 3rd. The financial services provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.04. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $2.91 billion. Unum Group had a return on equity of 12.52% and a net margin of 1.94%. During the same quarter in the prior year, the company earned $2.09 EPS. On average, research analysts predict that Unum Group will post 8.64 EPS for the current year.
Unum Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, October 30th will be paid a $0.5050 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.02 dividend on an annualized basis and a yield of 2.7%. Unum Group’s payout ratio is presently 47.09%.
Unum Group announced that its board has authorized a stock repurchase plan on Wednesday, August 26th that authorizes the company to buy back $1 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
About Unum Group
Unum Group is an insurance company that provides employee benefits and related protection products through employers, as well as selected individual policies. Its offerings are designed to help people manage the financial impact of illness, injury, death and other unexpected events.
The company’s products include short-term and long-term disability insurance, group and individual life insurance, accidental death and dismemberment coverage, and supplemental health benefits such as accident, critical illness and hospital indemnity insurance.
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