Unum Group (NYSE:UNM) Shares Gap Up on Analyst Upgrade

Unum Group (NYSE:UNMGet Rating) shares gapped up before the market opened on Wednesday after Morgan Stanley raised their price target on the stock from $34.00 to $37.00. The stock had previously closed at $31.36, but opened at $34.60. Morgan Stanley currently has an equal weight rating on the stock. Unum Group shares last traded at $35.82, with a volume of 7,087 shares trading hands.

Other analysts also recently issued research reports about the company. StockNews.com raised Unum Group from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. Citigroup began coverage on Unum Group in a research note on Monday, May 23rd. They set a “neutral” rating and a $36.00 target price on the stock. Evercore ISI lifted their target price on Unum Group from $35.00 to $37.00 and gave the company an “in-line” rating in a research note on Wednesday, July 6th. Barclays reduced their price objective on Unum Group from $35.00 to $33.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 13th. Finally, The Goldman Sachs Group lifted their price objective on Unum Group from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, June 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Unum Group has an average rating of “Hold” and an average target price of $32.56.

Insider Activity

In related news, CEO Richard P. Mckenney sold 35,271 shares of the business’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $36.49, for a total transaction of $1,287,038.79. Following the completion of the transaction, the chief executive officer now owns 990,367 shares in the company, valued at approximately $36,138,491.83. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Cherie Pashley sold 7,033 shares of the business’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $35.68, for a total transaction of $250,937.44. Following the completion of the transaction, the chief accounting officer now owns 18,413 shares in the company, valued at approximately $656,975.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard P. Mckenney sold 35,271 shares of the business’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $36.49, for a total value of $1,287,038.79. Following the transaction, the chief executive officer now owns 990,367 shares of the company’s stock, valued at approximately $36,138,491.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,453 shares of company stock valued at $1,789,121. 0.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Unum Group

Hedge funds have recently made changes to their positions in the company. Ahrens Investment Partners LLC purchased a new stake in shares of Unum Group in the 1st quarter worth $32,000. Koshinski Asset Management Inc. lifted its holdings in shares of Unum Group by 50.9% in the 1st quarter. Koshinski Asset Management Inc. now owns 1,132 shares of the financial services provider’s stock worth $36,000 after buying an additional 382 shares during the period. Addison Advisors LLC lifted its holdings in shares of Unum Group by 74.3% in the 1st quarter. Addison Advisors LLC now owns 1,173 shares of the financial services provider’s stock worth $37,000 after buying an additional 500 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of Unum Group in the 1st quarter worth $37,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Unum Group in the 1st quarter worth $40,000. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Unum Group Stock Down 2.0 %

The firm has a market capitalization of $7.08 billion, a PE ratio of 6.45, a PEG ratio of 0.52 and a beta of 1.29. The company has a fifty day simple moving average of $33.83 and a two-hundred day simple moving average of $31.51. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.29 and a current ratio of 0.29.

Unum Group (NYSE:UNMGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The financial services provider reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.55. The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Unum Group had a return on equity of 9.56% and a net margin of 9.29%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.04 EPS. Analysts forecast that Unum Group will post 5.16 EPS for the current fiscal year.

Unum Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Friday, July 29th will be paid a dividend of $0.33 per share. This is a boost from Unum Group’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Thursday, July 28th. Unum Group’s dividend payout ratio is 24.18%.

Unum Group Company Profile

(Get Rating)

Unum Group, together with its subsidiaries, provides financial protection benefit solutions primarily in the United States, the United Kingdom, and Poland. It operates through Unum US, Unum International, Colonial Life, and Closed Block segments. 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.

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