Unum Group (UNM) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Unum Group (NYSE:UNM) have received an average recommendation of “Hold” from the eleven research firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $47.29.
Several brokerages have recently weighed in on UNM. Barclays PLC increased their price objective on shares of Unum Group from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday. BidaskClub raised shares of Unum Group from a “buy” rating to a “strong-buy” rating in a research report on Friday. Wells Fargo & Company reissued a “hold” rating on shares of Unum Group in a research report on Sunday, July 30th. Royal Bank Of Canada reissued a “hold” rating on shares of Unum Group in a research report on Wednesday, July 12th. Finally, Zacks Investment Research raised shares of Unum Group from a “sell” rating to a “hold” rating and set a $56.00 price objective on the stock in a research report on Monday, July 31st.
Shares of Unum Group (UNM) traded down 0.48% on Friday, reaching $49.70. 743,811 shares of the company traded hands. The stock has a 50 day moving average of $48.26 and a 200 day moving average of $47.07. The stock has a market cap of $11.22 billion, a price-to-earnings ratio of 11.97 and a beta of 1.56. Unum Group has a 52-week low of $33.65 and a 52-week high of $51.43.
Unum Group (NYSE:UNM) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.04. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.80 billion. Unum Group had a net margin of 8.57% and a return on equity of 10.23%. During the same period in the prior year, the firm earned $1.00 earnings per share. On average, analysts expect that Unum Group will post $4.17 earnings per share for the current year.
Unum Group declared that its board has approved a share repurchase program on Thursday, May 25th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 7.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, July 31st will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.85%. This is a positive change from Unum Group’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, July 27th. Unum Group’s dividend payout ratio (DPR) is currently 22.17%.
In related news, Director Pamela H. Godwin sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $50.71, for a total transaction of $126,775.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gloria C. Larson sold 2,460 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $50.23, for a total transaction of $123,565.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,960 shares of company stock worth $932,391. 0.53% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Keybank National Association OH raised its position in Unum Group by 4.6% in the first quarter. Keybank National Association OH now owns 24,107 shares of the financial services provider’s stock worth $1,130,000 after buying an additional 1,067 shares in the last quarter. Achmea Investment Management B.V. acquired a new position in Unum Group during the first quarter worth approximately $3,930,000. State of Tennessee Treasury Department raised its position in Unum Group by 64.0% in the first quarter. State of Tennessee Treasury Department now owns 175,796 shares of the financial services provider’s stock worth $8,244,000 after buying an additional 68,624 shares in the last quarter. Flinton Capital Management LLC raised its position in Unum Group by 13.0% in the first quarter. Flinton Capital Management LLC now owns 142,688 shares of the financial services provider’s stock worth $6,691,000 after buying an additional 16,408 shares in the last quarter. Finally, KCG Holdings Inc. raised its position in Unum Group by 84.9% in the first quarter. KCG Holdings Inc. now owns 21,265 shares of the financial services provider’s stock worth $997,000 after buying an additional 9,766 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.
About Unum Group
Unum Group is a provider of financial protection benefits in the United States and the United Kingdom. The Company’s products include disability, life, accident, critical illness, dental and vision, and other related services. Its segments include Unum US, Unum UK, Colonial Life, Closed Block and Corporate.
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