Unum Group (NYSE:UNM) Raised to “Strong-Buy” at Raymond James

Unum Group (NYSE:UNM) was upgraded by research analysts at Raymond James from a “market perform” rating to a “strong-buy” rating in a research note issued on Wednesday, Marketbeat.com reports. The firm currently has a $108.00 price target on the financial services provider’s stock. Raymond James’ price target indicates a potential upside of 38.55% from the company’s previous close.

Several other brokerages have also commented on UNM. StockNews.com lowered shares of Unum Group from a “buy” rating to a “hold” rating in a research note on Monday, February 24th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $79.00 price objective (up previously from $74.00) on shares of Unum Group in a report on Tuesday, January 7th. Barclays increased their price target on Unum Group from $76.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Jefferies Financial Group lifted their price target on shares of Unum Group from $91.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Evercore ISI raised shares of Unum Group from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $67.00 to $84.00 in a report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Unum Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.62.

Unum Group Trading Down 4.2 %

Shares of NYSE:UNM opened at $77.95 on Wednesday. The firm has a fifty day moving average of $75.20 and a two-hundred day moving average of $68.18. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32. Unum Group has a 12-month low of $48.38 and a 12-month high of $83.96. The firm has a market capitalization of $14.23 billion, a P/E ratio of 8.23, a price-to-earnings-growth ratio of 1.14 and a beta of 0.80.

Unum Group (NYSE:UNM) last issued its earnings results 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 return on equity of 14.91% and a net margin of 13.81%. On average, equities analysts expect that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group declared that its board has approved a stock repurchase plan on Tuesday, February 18th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 7.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Lisa G. Iglesias sold 7,000 shares of the stock in a transaction 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 completion of 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard P. Mckenney sold 50,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the transaction, the chief executive officer now directly owns 980,637 shares of the company’s stock, valued at $80,402,427.63. The trade was a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Unum Group

A number of institutional investors have recently added to or reduced their stakes in UNM. Barrett & Company Inc. lifted its position in shares of Unum Group by 300.0% during the 4th quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock worth $29,000 after buying an additional 297 shares during the period. Capital Performance Advisors LLP acquired a new position in Unum Group during the third quarter worth $31,000. Kestra Investment Management LLC bought a new position in shares of Unum Group during the fourth quarter valued at $38,000. Millstone Evans Group LLC acquired a new stake in shares of Unum Group in the 4th quarter valued at $45,000. Finally, Quarry LP lifted its holdings in Unum Group by 4,794.7% during the 3rd quarter. Quarry LP now owns 930 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 911 shares during the last quarter. 86.57% of the stock is owned by institutional investors and hedge funds.

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.