Truist Financial Boosts Unum Group (NYSE:UNM) Price Target to $62.00

Unum Group (NYSE:UNM) had its target price hoisted by Truist Financial from $57.00 to $62.00 in a research note published on Thursday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other brokerages have also recently commented on UNM. JPMorgan Chase & Co. increased their price objective on shares of Unum Group from $56.00 to $58.00 and gave the company an overweight rating in a research note on Tuesday, April 2nd. Morgan Stanley raised their price objective on shares of Unum Group from $50.00 to $52.00 and gave the stock an equal weight rating in a research note on Monday, April 15th. Wells Fargo & Company upped their target price on Unum Group from $64.00 to $66.00 and gave the company an overweight rating in a research note on Thursday, April 11th. The Goldman Sachs Group increased their target price on Unum Group from $47.00 to $52.00 and gave the company a neutral rating in a report on Wednesday, January 31st. Finally, StockNews.com raised Unum Group from a hold rating to a buy rating in a report on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $57.38.

Unum Group Price Performance

UNM stock opened at $51.62 on Thursday. The firm has a 50 day moving average of $51.55 and a 200-day moving average of $47.70. The company has a market cap of $9.78 billion, a price-to-earnings ratio of 7.67, a PEG ratio of 1.28 and a beta of 0.87. The company has a current ratio of 0.28, a quick ratio of 0.27 and a debt-to-equity ratio of 0.34. Unum Group has a 12-month low of $41.75 and a 12-month high of $54.57.

Unum Group (NYSE:UNM) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.15. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Unum Group had a return on equity of 16.02% and a net margin of 10.52%. Unum Group’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.87 earnings per share. As a group, equities analysts expect that Unum Group will post 8.19 EPS for the current fiscal year.

Unum Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Thursday, April 25th. Unum Group’s dividend payout ratio is presently 21.69%.

Insider Transactions at Unum Group

In related news, 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 completion of the transaction, the chief executive officer now directly owns 1,076,753 shares in the company, valued at $52,922,409.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Unum Group news, EVP Elizabeth Claire Ahmed sold 5,000 shares of Unum Group stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $50.00, for a total value of $250,000.00. Following the transaction, the executive vice president now owns 55,450 shares in the company, valued at approximately $2,772,500. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Richard P. Mckenney sold 50,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $49.15, for a total transaction of $2,457,500.00. Following the sale, the chief executive officer now directly 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. Insiders have sold 81,000 shares of company stock worth $4,018,100 over the last quarter. 0.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Unum Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in UNM. Silver Oak Securities Incorporated acquired a new stake in Unum Group during the 3rd quarter worth approximately $25,000. Contravisory Investment Management Inc. acquired a new stake in shares of Unum Group in the fourth quarter worth $25,000. Salomon & Ludwin LLC purchased a new position in shares of Unum Group in the 1st quarter valued at $28,000. Bangor Savings Bank lifted its holdings in shares of Unum Group by 100.0% during the 3rd quarter. Bangor Savings Bank now owns 664 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 332 shares in the last quarter. Finally, MCF Advisors LLC purchased a new stake in Unum Group during the 1st quarter worth $35,000. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Unum Group Company Profile

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.