Keefe, Bruyette & Woods Issues Pessimistic Forecast for Unum Group (NYSE:UNM) Stock Price

Unum Group (NYSE:UNM) had its target price decreased by Keefe, Bruyette & Woods from $103.00 to $102.00 in a report released on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

Several other analysts have also issued reports on the stock. UBS Group upped their target price on shares of Unum Group from $75.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. increased their price objective on shares of Unum Group from $81.00 to $87.00 and gave the company a “neutral” rating in a research note on Wednesday, April 2nd. StockNews.com cut shares of Unum Group from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. BMO Capital Markets increased their price target on Unum Group from $95.00 to $102.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Finally, Barclays boosted their price objective on Unum Group from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Unum Group has an average rating of “Moderate Buy” and a consensus price target of $88.36.

Unum Group Price Performance

Shares of UNM opened at $75.28 on Wednesday. The business’s fifty day moving average is $77.81 and its 200 day moving average is $72.73. Unum Group has a 12-month low of $48.38 and a 12-month high of $84.48. 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 stock has a market cap of $13.31 billion, a P/E ratio of 7.95, a P/E/G ratio of 1.14 and a beta of 0.46.

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

Unum Group announced that its board has initiated a stock buyback 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 buy up to 7.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Unum Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be issued a $0.42 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.23%. Unum Group’s payout ratio is currently 17.74%.

Insider Buying and Selling

In related 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 directly owns 31,284 shares in the company, valued at approximately $2,588,751. This represents a 18.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard P. Mckenney sold 50,000 shares of Unum Group 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 sale, the chief executive officer now owns 980,637 shares of the company’s stock, valued at approximately $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. 0.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Curat Global LLC bought a new stake in Unum Group during the first quarter worth about $179,000. Vest Financial LLC lifted its position in Unum Group by 1,740.3% in the 1st quarter. Vest Financial LLC now owns 627,582 shares of the financial services provider’s stock worth $51,123,000 after buying an additional 593,479 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Unum Group by 60.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,282 shares of the financial services provider’s stock worth $104,000 after buying an additional 482 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in Unum Group during the first quarter valued at approximately $462,000. Finally, Merit Financial Group LLC raised its stake in shares of Unum Group by 168.5% during the first quarter. Merit Financial Group LLC now owns 12,070 shares of the financial services provider’s stock worth $983,000 after acquiring an additional 7,574 shares in the last quarter. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

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.