Unum Group (NYSE:UNM) Price Target Raised to $85.00

Unum Group (NYSE:UNM - Get Free Report) had its price objective upped by stock analysts at Morgan Stanley from $83.00 to $85.00 in a research report issued on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's price objective suggests a potential upside of 4.43% from the company's current price.

Several other research analysts have also weighed in on the stock. Wells Fargo & Company upped their target price on shares of Unum Group from $97.00 to $105.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Piper Sandler upped their target price on shares of Unum Group from $88.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. UBS Group set a $89.00 target price on shares of Unum Group and gave the stock a "neutral" rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. upped their price target on shares of Unum Group from $87.00 to $96.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Unum Group from $103.00 to $102.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $90.14.

Unum Group Stock Performance

Shares of Unum Group stock traded up $1.35 on Monday, reaching $81.39. 110,754 shares of the stock were exchanged, compared to its average volume of 1,328,837. Unum Group has a 1-year low of $51.80 and a 1-year high of $84.48. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average price of $80.29 and a two-hundred day moving average price of $77.96. The firm has a market capitalization of $14.19 billion, a PE ratio of 9.58, a PEG ratio of 1.25 and a beta of 0.41.

Unum Group (NYSE:UNM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $2.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.19 by ($0.15). Unum Group had a return on equity of 14.17% and a net margin of 12.31%. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same quarter last year, the firm earned $2.12 earnings per share. The company's revenue was down 3.4% compared to the same quarter last year. As a group, research analysts anticipate that Unum Group will post 9.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $80.00, for a total value of $800,000.00. Following the completion of the sale, the executive vice president owned 51,170 shares of the company's stock, valued at $4,093,600. This represents a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Unum Group

Several large investors have recently made changes to their positions in the business. Fifth Third Bancorp grew its holdings in Unum Group by 4.0% during the 1st quarter. Fifth Third Bancorp now owns 3,558 shares of the financial services provider's stock valued at $290,000 after purchasing an additional 136 shares in the last quarter. Advisors Capital Management LLC grew its holdings in Unum Group by 2.2% during the 1st quarter. Advisors Capital Management LLC now owns 6,308 shares of the financial services provider's stock valued at $514,000 after purchasing an additional 136 shares in the last quarter. Bessemer Group Inc. grew its holdings in Unum Group by 2.2% during the 4th quarter. Bessemer Group Inc. now owns 6,536 shares of the financial services provider's stock valued at $478,000 after purchasing an additional 143 shares in the last quarter. Kovitz Investment Group Partners LLC grew its holdings in Unum Group by 0.8% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 18,211 shares of the financial services provider's stock valued at $1,330,000 after purchasing an additional 147 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in Unum Group by 4.4% during the 2nd quarter. UMB Bank n.a. now owns 4,016 shares of the financial services provider's stock valued at $324,000 after purchasing an additional 168 shares in the last quarter. 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.

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