Unum Group (NYSE:UNM) Given New $66.00 Price Target at Wells Fargo & Company

Unum Group (NYSE:UNM - Free Report) had its target price lifted by Wells Fargo & Company from $64.00 to $66.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the financial services provider's stock.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. boosted their price target on Unum Group from $56.00 to $58.00 and gave the stock an overweight rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group increased their target price on Unum Group from $47.00 to $52.00 and gave the company a neutral rating in a research note on Wednesday, January 31st. Finally, StockNews.com upgraded Unum Group from a hold rating to a buy rating in a research note on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $56.50.

Unum Group Trading Down 1.6 %

NYSE UNM traded down $0.84 during trading on Thursday, hitting $50.25. 1,957,528 shares of the company's stock traded hands, compared to its average volume of 1,451,715. The firm has a market cap of $9.64 billion, a P/E ratio of 7.74, a PEG ratio of 0.78 and a beta of 0.87. The stock has a fifty day moving average of $50.66 and a two-hundred day moving average of $47.55. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.27 and a quick ratio of 0.27. Unum Group has a 12-month low of $39.40 and a 12-month high of $54.57.

Unum Group (NYSE:UNM - Get Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.86 by ($0.07). Unum Group had a net margin of 10.36% and a return on equity of 16.03%. The firm had revenue of $3.15 billion for the quarter, compared to analysts' expectations of $3.14 billion. During the same period in the previous year, the company earned $1.43 EPS. The company's quarterly revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts expect that Unum Group will post 8.19 EPS for the current year.

Unum Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Friday, January 26th were issued a dividend of $0.365 per share. This represents a $1.46 annualized dividend and a yield of 2.91%. The ex-dividend date was Thursday, January 25th. Unum Group's payout ratio is 22.50%.

Insider Buying and Selling

In related news, CEO Richard P. Mckenney sold 50,000 shares of the company's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $49.15, for a total transaction of $2,457,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,076,753 shares in the company, valued at approximately $52,922,409.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Richard P. Mckenney sold 50,000 shares of Unum Group stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $49.15, for a total value of $2,457,500.00. Following the transaction, the chief executive officer now owns 1,076,753 shares of the company's stock, valued at approximately $52,922,409.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Steven Andrew Zabel sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $51.06, for a total transaction of $510,600.00. Following the sale, the chief financial officer now directly owns 122,246 shares of the company's stock, valued at approximately $6,241,880.76. The disclosure for this sale can be found here. Insiders sold 81,000 shares of company stock valued at $4,018,100 over the last 90 days. Corporate insiders own 0.94% of the company's stock.

Institutional Trading of Unum Group

A number of institutional investors have recently made changes to their positions in UNM. Silver Oak Securities Incorporated acquired a new position in shares of Unum Group during the third quarter valued at about $25,000. Contravisory Investment Management Inc. purchased a new position in shares of Unum Group in the fourth quarter worth $25,000. Bangor Savings Bank lifted its stake in shares of Unum Group by 100.0% during the third quarter. Bangor Savings Bank now owns 664 shares of the financial services provider's stock worth $33,000 after buying an additional 332 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Unum Group during the third quarter valued at $36,000. Finally, Arlington Trust Co LLC acquired a new position in shares of Unum Group in the 3rd quarter valued at $38,000. Institutional investors and hedge funds own 86.57% of the company's stock.

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.