Unum Group (NYSE:UNM) Upgraded to “Buy” at Citigroup

Citigroup upgraded shares of Unum Group (NYSE:UNMGet Rating) from a neutral rating to a buy rating in a report released on Wednesday, MarketBeat.com reports. Citigroup currently has $53.00 price target on the financial services provider’s stock, up from their prior price target of $49.00.

Several other research analysts also recently commented on the stock. Barclays raised their price target on shares of Unum Group from $44.00 to $46.00 and gave the company an equal weight rating in a report on Monday, February 27th. Morgan Stanley raised their price target on shares of Unum Group from $48.00 to $50.00 and gave the company an equal weight rating in a report on Thursday, February 23rd. Keefe, Bruyette & Woods raised shares of Unum Group from a market perform rating to an outperform rating and raised their price target for the company from $49.00 to $52.00 in a report on Tuesday, March 14th. Finally, The Goldman Sachs Group downgraded shares of Unum Group from a buy rating to a neutral rating and set a $50.00 price objective for the company. in a report on Wednesday, November 16th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $46.11.

Unum Group Stock Down 4.6 %

UNM opened at $36.65 on Wednesday. The company has a 50 day moving average of $41.88 and a 200 day moving average of $41.38. The company has a market cap of $7.23 billion, a PE ratio of 5.63, a price-to-earnings-growth ratio of 0.71 and a beta of 1.09. Unum Group has a 12 month low of $28.75 and a 12 month high of $46.64. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.37.

Unum Group (NYSE:UNMGet Rating) last announced its quarterly earnings results on Wednesday, February 1st. The financial services provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.03). Unum Group had a net margin of 10.96% and a return on equity of 13.14%. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3 billion. During the same period in the previous year, the business earned $0.89 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, sell-side analysts expect that Unum Group will post 6.62 EPS for the current year.

Unum Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 17th. Stockholders of record on Friday, January 27th were given a dividend of $0.33 per share. The ex-dividend date was Thursday, January 26th. This represents a $1.32 annualized dividend and a dividend yield of 3.60%. Unum Group’s dividend payout ratio (DPR) is presently 20.28%.

Unum Group declared that its Board of Directors has approved a stock repurchase plan on Thursday, December 1st that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 2.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, Director Gloria C. Larson bought 3,270 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The stock was bought at an average cost of $39.78 per share, for a total transaction of $130,080.60. Following the acquisition, the director now directly owns 119,846 shares of the company’s stock, valued at approximately $4,767,473.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Lisa G. Iglesias sold 14,972 shares of the stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $45.02, for a total transaction of $674,039.44. Following the completion of the sale, the executive vice president now directly owns 63,333 shares in the company, valued at approximately $2,851,251.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gloria C. Larson acquired 3,270 shares of the company’s stock in a transaction on Tuesday, March 14th. The stock was acquired at an average price of $39.78 per share, with a total value of $130,080.60. Following the acquisition, the director now owns 119,846 shares in the company, valued at approximately $4,767,473.88. The disclosure for this purchase can be found here. Corporate insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Unum Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Guardian Wealth Advisors LLC purchased a new position in shares of Unum Group in the 3rd quarter valued at approximately $27,000. Allworth Financial LP lifted its stake in shares of Unum Group by 74.9% in the 3rd quarter. Allworth Financial LP now owns 843 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 361 shares during the period. Ellevest Inc. lifted its stake in shares of Unum Group by 43.9% in the 3rd quarter. Ellevest Inc. now owns 1,367 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 417 shares during the period. Ronald Blue Trust Inc. lifted its stake in shares of Unum Group by 229.1% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,491 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 1,038 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Unum Group by 514.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,543 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 1,292 shares during the period. Hedge funds and other institutional investors own 79.64% of the company’s stock.

About Unum Group

(Get Rating)

Unum Group engages in the provision of financial protection benefits. Its services include disability, life, accident, critical illness, dental, vision, and other related services. It operates through the following segments: Unum US, Unum International, Colonial Life, Closed Block, and Corporate. The Unum US segment focuses on group disability, group life and accidental death and dismemberment products, and supplemental and voluntary lines of business.

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Analyst Recommendations for Unum Group (NYSE:UNM)

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