Unum Group (NYSE:UNM) Reaches New 52-Week High – Here’s What Happened

Unum Group (NYSE:UNM) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $80.16 and last traded at $82.30, with a volume of 7737 shares changing hands. The stock had previously closed at $77.28.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. BMO Capital Markets assumed coverage on shares of Unum Group in a research report on Thursday, January 23rd. They set an “outperform” rating and a $91.00 target price on the stock. StockNews.com cut shares of Unum Group from a “buy” rating to a “hold” rating in a research note on Monday. Wells Fargo & Company raised their target price on Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods lifted their target price on Unum Group from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Evercore ISI raised Unum Group from an “in-line” rating to an “outperform” rating and increased their price target for the company from $67.00 to $84.00 in a research note on Thursday, November 14th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.17.

Unum Group Stock Up 6.8 %

The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The company has a market cap of $15.07 billion, a price-to-earnings ratio of 8.72, a P/E/G ratio of 1.14 and a beta of 0.80. The stock’s 50-day moving average is $74.51 and its 200-day moving average is $67.33.

Unum Group (NYSE:UNM) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. On average, analysts anticipate that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Dividend Announcement

The company also recently disclosed 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 of this dividend was Friday, January 24th. This represents a $1.68 annualized dividend and a dividend yield of 2.04%. Unum Group’s dividend payout ratio is 17.74%.

Unum Group declared that its Board of Directors has initiated a share repurchase plan on Tuesday, February 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to repurchase 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.

Hedge Funds Weigh In On Unum Group

Several large investors have recently added to or reduced their stakes in the business. Barrett & Company Inc. raised its stake in shares of Unum Group by 300.0% in the fourth quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 297 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Unum Group in the 3rd quarter valued at $31,000. Kestra Investment Management LLC bought a new position in Unum Group during the 4th quarter valued at $38,000. Millstone Evans Group LLC bought a new stake in shares of Unum Group in the 4th quarter worth $45,000. Finally, Quarry LP grew its stake in shares of Unum Group by 4,794.7% in the 3rd quarter. Quarry LP now owns 930 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 911 shares in the last quarter. Institutional investors own 86.57% of the company’s stock.

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.