Unum Group (NYSE:UNM) Price Target Raised to $96.00

Unum Group (NYSE:UNM - Get Free Report) had its price target increased by equities researchers at JPMorgan Chase & Co. from $87.00 to $96.00 in a report released on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 20.67% from the stock's previous close.

Other analysts also recently issued reports about the company. Barclays set a $96.00 target price on Unum Group and gave the company an "overweight" rating in a research report on Monday. Keefe, Bruyette & Woods lowered their price target on Unum Group from $103.00 to $102.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Piper Sandler boosted their price target on Unum Group from $88.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Morgan Stanley boosted their price target on Unum Group from $76.00 to $83.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Finally, UBS Group set a $89.00 price target on Unum Group and gave the stock a "neutral" rating in a report on Friday, May 23rd. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Unum Group currently has an average rating of "Moderate Buy" and a consensus price target of $90.00.

Unum Group Stock Performance

Shares of UNM traded down $1.39 during mid-day trading on Tuesday, hitting $79.56. 589,874 shares of the company's stock were exchanged, compared to its average volume of 1,328,666. The stock's 50-day simple moving average is $80.20 and its 200-day simple moving average is $77.79. The firm has a market cap of $13.87 billion, a price-to-earnings ratio of 9.37, a price-to-earnings-growth ratio of 1.28 and a beta of 0.41. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.31. Unum Group has a 52 week low of $50.03 and a 52 week high of $84.48.

Unum Group (NYSE:UNM - Get Free Report) last released its earnings results on Tuesday, April 29th. The financial services provider reported $2.04 earnings per share for the quarter, missing analysts' consensus estimates of $2.19 by ($0.15). The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.34 billion. Unum Group had a net margin of 12.31% and a return on equity of 14.17%. The business's revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.12 earnings per share. On average, equities research analysts expect that Unum Group will post 9.14 EPS for the current year.

Insider Buying and Selling

In related news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $80.00, for a total transaction 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 trade represents a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Unum Group

Large investors have recently added to or reduced their stakes in the business. Quintet Private Bank Europe S.A. bought a new stake in shares of Unum Group during the second quarter worth about $28,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Unum Group during the first quarter valued at approximately $30,000. Atwood & Palmer Inc. boosted its position in shares of Unum Group by 100.0% during the second quarter. Atwood & Palmer Inc. now owns 400 shares of the financial services provider's stock valued at $32,000 after buying an additional 200 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of Unum Group during the first quarter valued at approximately $35,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Unum Group by 196.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 478 shares of the financial services provider's stock valued at $39,000 after buying an additional 317 shares during 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.