Unum Group (NYSE:UNM) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Unum Group (NYSE:UNM) from a buy rating to a hold rating in a research report report published on Friday.

A number of other analysts have also weighed in on the stock. Jefferies Financial Group upped their price target on shares of Unum Group from $91.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Barclays upped their price target on shares of Unum Group from $76.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Raymond James raised shares of Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 price target for the company in a research note on Wednesday, March 5th. Morgan Stanley increased their target price on shares of Unum Group from $80.00 to $84.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $79.00 target price (up from $74.00) on shares of Unum Group in a research note on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Unum Group presently has an average rating of “Moderate Buy” and an average target price of $86.62.

Unum Group Trading Down 0.5 %

Unum Group stock opened at $79.05 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $75.59 and a two-hundred day moving average price of $68.62. The firm has a market capitalization of $13.97 billion, a price-to-earnings ratio of 8.35, a PEG ratio of 1.14 and a beta of 0.74. Unum Group has a 52-week low of $48.38 and a 52-week high of $83.96.

Unum Group (NYSE:UNM) last issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). Unum Group had a return on equity of 14.91% and a net margin of 13.81%. Sell-side analysts expect that Unum Group will post 9.14 earnings per share for the current year.

Unum Group announced that its board has initiated a share buyback plan on Tuesday, February 18th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 7.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Unum Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, January 24th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.13%. Unum Group’s dividend payout ratio is currently 17.74%.

Insider Activity

In other Unum Group news, EVP Lisa G. Iglesias sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $82.75, for a total value of $579,250.00. Following the transaction, the executive vice president now owns 31,284 shares in the company, valued at approximately $2,588,751. This represents a 18.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard P. Mckenney sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the completion of the transaction, the chief executive officer now owns 980,637 shares in the company, valued at approximately $80,402,427.63. This represents a 4.85 % decrease in their position. The disclosure for this sale can be found here. 0.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Total Wealth Planning & Management Inc. acquired a new position in Unum Group in the 4th quarter valued at approximately $2,189,000. Jefferies Financial Group Inc. bought a new stake in Unum Group in the fourth quarter worth approximately $4,166,000. Sculati Wealth Management LLC grew its position in Unum Group by 0.5% in the fourth quarter. Sculati Wealth Management LLC now owns 38,901 shares of the financial services provider’s stock worth $2,841,000 after acquiring an additional 200 shares in the last quarter. Leigh Baldwin & CO. LLC bought a new stake in Unum Group in the fourth quarter worth approximately $217,000. Finally, Challenger Wealth Management bought a new stake in Unum Group in the fourth quarter worth approximately $258,000. Institutional investors and hedge funds own 86.57% of the company’s stock.

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.