Unum Group (NYSE:UNM) Hits New 12-Month High at $47.00

Posted by Defense World Staff on Jun 29th, 2023

Unum Group (NYSE:UNM – Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $47.00 and last traded at $46.99, with a volume of 156138 shares trading hands. The stock had previously closed at $46.33.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Jefferies Financial Group upgraded Unum Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $44.00 to $50.00 in a report on Monday, March 20th. The Goldman Sachs Group dropped their price objective on shares of Unum Group from $51.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 5th. StockNews.com initiated coverage on shares of Unum Group in a research note on Thursday, May 18th. They set a “buy” rating for the company. Keefe, Bruyette & Woods upgraded Unum Group from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $49.00 to $52.00 in a research note on Tuesday, March 14th. Finally, Citigroup upgraded Unum Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $49.00 to $53.00 in a research note on Wednesday, March 15th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $47.00.

Unum Group Stock Performance

The business’s fifty day moving average price is $44.33 and its 200-day moving average price is $42.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market cap of $9.23 billion, a PE ratio of 6.64, a P/E/G ratio of 0.74 and a beta of 1.08.

Unum Group (NYSE:UNM – Free Report) last posted its earnings results on Tuesday, May 2nd. The financial services provider reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.22. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.05 billion. Unum Group had a net margin of 11.78% and a return on equity of 14.67%. The firm’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 EPS. As a group, equities research analysts forecast that Unum Group will post 7.49 EPS for the current fiscal year.

Unum Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 19th. Shareholders of record on Friday, April 28th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Thursday, April 27th. Unum Group’s dividend payout ratio is 18.70%.

Insider Activity

In other news, CAO Walter Lynn Rice, Jr. sold 2,800 shares of the stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $44.71, for a total value of $125,188.00. Following the transaction, the chief accounting officer now owns 7,119 shares in the company, valued at approximately $318,290.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Unum Group news, COO Michael Q. Simonds sold 18,000 shares of the firm’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $43.72, for a total transaction of $786,960.00. Following the sale, the chief operating officer now directly owns 222,088 shares of the company’s stock, valued at $9,709,687.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Walter Lynn Rice, Jr. sold 2,800 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $44.71, for a total value of $125,188.00. Following the completion of the transaction, the chief accounting officer now owns 7,119 shares in the company, valued at $318,290.49. The disclosure for this sale can be found here. Insiders sold 55,988 shares of company stock valued at $2,513,529 in the last quarter. 0.94% of the stock is currently owned by insiders.

Institutional Trading of Unum Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in UNM. BlackRock Inc. boosted its position in shares of Unum Group by 3.7% during the first quarter. BlackRock Inc. now owns 23,681,485 shares of the financial services provider’s stock worth $746,204,000 after acquiring an additional 836,407 shares during the last quarter. Norges Bank bought a new position in shares of Unum Group during the 4th quarter valued at about $426,463,000. State Street Corp grew its position in shares of Unum Group by 2.4% during the second quarter. State Street Corp now owns 7,106,074 shares of the financial services provider’s stock valued at $241,749,000 after purchasing an additional 166,022 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Unum Group by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,808,096 shares of the financial services provider’s stock worth $197,276,000 after purchasing an additional 192,558 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Unum Group by 39.0% in the first quarter. AQR Capital Management LLC now owns 3,481,641 shares of the financial services provider’s stock worth $136,167,000 after buying an additional 977,334 shares in the last quarter. Institutional investors own 78.94% of the company’s stock.

About Unum Group

(Free Report)

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 and Corporate 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.