Unum Group (NYSE:UNM – Get Free Report) had its target price reduced by research analysts at Wells Fargo & Company from $102.00 to $91.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 11.93% from the stock’s previous close.
Several other research firms also recently weighed in on UNM. Keefe, Bruyette & Woods decreased their price objective on Unum Group from $108.00 to $97.00 and set an “outperform” rating for the company in a report on Thursday, November 5th. Atlantic Securities set a $88.00 price objective on shares of Unum Group in a research note on Wednesday, July 15th. Barclays dropped their target price on shares of Unum Group from $109.00 to $101.00 and set an “overweight” rating on the stock in a report on Wednesday, November 4th. JPMorgan Chase & Co. raised shares of Unum Group from a “neutral” rating to an “overweight” rating and cut their target price for the company from $98.00 to $90.00 in a research report on Monday. Finally, Weiss Ratings lowered shares of Unum Group from a “buy (b)” rating to a “hold (c+)” rating in a report on Tuesday. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Unum Group presently has an average rating of “Moderate Buy” and an average price target of $94.75.
Read Our Latest Stock Analysis on Unum Group
Unum Group Trading Up 0.1%
UNM opened at $81.30 on Thursday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.35. The stock’s fifty day moving average is $90.62 and its two-hundred day moving average is $84.11. The company has a market capitalization of $12.60 billion, a P/E ratio of 57.66, a PEG ratio of 0.87 and a beta of 0.25. Unum Group has a 52 week low of $69.02 and a 52 week high of $96.77.
Unum Group (NYSE:UNM – Get Free Report) last issued its earnings results on Tuesday, November 3rd. The financial services provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.04. Unum Group had a return on equity of 12.57% and a net margin of 1.94%. The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same period in the prior year, the business earned $2.09 EPS. Analysts forecast that Unum Group will post 8.37 earnings per share for the current year.
Unum Group declared that its Board of Directors has initiated a share buyback 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 repurchase up to 7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
Insider Transactions at Unum Group
In related news, Director Timothy Keaney sold 4,300 shares of the company’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $94.02, for a total transaction of $404,286.00. Following the completion of the sale, the director directly owned 36,502 shares in the company, valued at $3,431,918.04. This represents a 10.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Lisa G. Iglesias sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $94.44, for a total value of $377,760.00. Following the sale, the executive vice president directly owned 25,453 shares in the company, valued at approximately $2,403,781.32. The trade was a 13.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 10,488 shares of company stock valued at $988,396. Corporate insiders own 1.00% of the company’s stock.
Hedge Funds Weigh In On Unum Group
A number of large investors have recently added to or reduced their stakes in UNM. Laurel Wealth Advisors LLC purchased a new stake in shares of Unum Group during the third quarter valued at about $29,000. CX Institutional boosted its holdings in shares of Unum Group by 57.8% in the 3rd quarter. CX Institutional now owns 352 shares of the financial services provider’s stock valued at $31,000 after buying an additional 129 shares in the last quarter. City State Bank bought a new stake in shares of Unum Group in the 3rd quarter valued at about $32,000. Ancora Advisors LLC bought a new stake in shares of Unum Group in the 2nd quarter valued at about $39,000. Finally, Trust Co. of Vermont purchased a new position in shares of Unum Group in the 2nd quarter worth approximately $47,000. 86.57% of the stock is currently owned by institutional investors.
About Unum Group
Unum Group is an insurance holding company that provides employee benefits and related services, primarily to employers and their workers. Its offerings include group disability and life insurance, accident and critical illness coverage, and services that help employers manage employee leave and workplace absence. Through its Unum and Colonial Life businesses, the company also provides voluntary benefits that employees can elect through their workplaces. In the United Kingdom, Unum offers workplace benefits including income protection, life insurance and critical illness coverage.
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