Unum Group (NYSE:UNM) Reaches New 1-Year High on Analyst Upgrade

Unum Group (NYSE:UNM) shares hit a new 52-week high during mid-day trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $56.00 to $58.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Unum Group traded as high as $54.38 and last traded at $54.31, with a volume of 61095 shares. The stock had previously closed at $53.87.

Several other equities analysts also recently weighed in on the company. StockNews.com raised Unum Group from a “hold” rating to a “buy” rating in a research report on Wednesday, January 31st. The Goldman Sachs Group boosted their target price on Unum Group from $47.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, January 31st. Finally, Wells Fargo & Company boosted their target price on Unum Group from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $56.25.

Insider Transactions at Unum Group

In other news, CFO Steven Andrew Zabel sold 10,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $51.06, for a total transaction of $510,600.00. Following the transaction, the chief financial officer now owns 122,246 shares of the company’s stock, valued at approximately $6,241,880.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Steven Andrew Zabel sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $51.06, for a total transaction of $510,600.00. Following the completion of the sale, the chief financial officer now directly owns 122,246 shares in the company, valued at approximately $6,241,880.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard P. Mckenney sold 50,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $49.15, for a total value of $2,457,500.00. Following the sale, the chief executive officer now owns 1,076,753 shares of the company’s stock, valued at $52,922,409.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,000 shares of company stock valued at $4,018,100. 0.94% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Unum Group

Hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB lifted its stake in shares of Unum Group by 79.8% during the 4th quarter. Nordea Investment Management AB now owns 1,952,763 shares of the financial services provider’s stock worth $88,616,000 after purchasing an additional 866,531 shares during the last quarter. American Century Companies Inc. raised its stake in Unum Group by 14.9% in the third quarter. American Century Companies Inc. now owns 222,878 shares of the financial services provider’s stock valued at $10,963,000 after buying an additional 28,898 shares during the last quarter. Boone Capital Management LLC raised its stake in Unum Group by 1.2% in the third quarter. Boone Capital Management LLC now owns 867,565 shares of the financial services provider’s stock valued at $42,676,000 after buying an additional 10,000 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in Unum Group by 91.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 63,810 shares of the financial services provider’s stock valued at $3,138,000 after buying an additional 30,555 shares during the last quarter. Finally, Hudson Bay Capital Management LP purchased a new stake in Unum Group in the third quarter valued at about $7,378,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Unum Group Stock Performance

The business has a 50 day simple moving average of $50.10 and a 200 day simple moving average of $47.42. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $10.42 billion, a PE ratio of 8.36, a PEG ratio of 0.79 and a beta of 0.87.

Unum Group (NYSE:UNM) last released its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.07). Unum Group had a net margin of 10.36% and a return on equity of 16.03%. The business had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the business posted $1.43 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts predict that Unum Group will post 8.18 EPS for the current fiscal year.

Unum Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Friday, January 26th were paid a $0.365 dividend. This represents a $1.46 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Thursday, January 25th. Unum Group’s payout ratio is 22.50%.

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.