Unum Group (NYSE:UNM)‘s stock had its “hold” rating restated by analysts at Wells Fargo & Company in a research report issued on Sunday, July 30th.
The analysts wrote, “We are raising our 2017 EPS estimate at to $4.16 from $4.10 to account for the Q2 beat, as well as slightly better expected underwriting in Unum US. Our new estimate implies growth of +7.1% in 2017. No change to our 2018E. Our price target rises to $48 per share from $47 to reflect an applied 1.1x multiple against a modeled book value rolled one quarter further out. We expect the stock to react well to the beat as well as the upward revision of the operating EPS growth guidance.””
Other equities analysts have also issued reports about the company. BidaskClub raised Unum Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Zacks Investment Research raised Unum Group from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Wednesday, June 28th. Royal Bank Of Canada reissued a “hold” rating on shares of Unum Group in a research note on Wednesday, July 12th. Finally, Deutsche Bank AG upped their target price on Unum Group from $46.00 to $48.00 and gave the stock a “hold” rating in a research report on Wednesday, April 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Unum Group currently has a consensus rating of “Hold” and an average price target of $46.78.
Shares of Unum Group (UNM) traded down 0.48% during mid-day trading on Friday, reaching $49.70. 743,811 shares of the company traded hands. The stock’s 50 day moving average is $48.26 and its 200 day moving average is $47.07. Unum Group has a 52-week low of $33.65 and a 52-week high of $51.43. The stock has a market capitalization of $11.22 billion, a PE ratio of 11.97 and a beta of 1.56.
Unum Group (NYSE:UNM) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.04. Unum Group had a return on equity of 10.23% and a net margin of 8.57%. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period in the previous year, the firm earned $1.00 earnings per share. On average, analysts anticipate that Unum Group will post $4.17 earnings per share for the current year.
Unum Group announced that its Board of Directors has initiated a stock buyback program on Thursday, May 25th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire up to 7.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
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In other Unum Group news, Director Gloria C. Larson sold 2,460 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $50.23, for a total value of $123,565.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Breege A. Farrell sold 15,000 shares of the company’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $45.47, for a total value of $682,050.00. The disclosure for this sale can be found here. Insiders have sold 19,960 shares of company stock valued at $932,391 in the last quarter. 0.53% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in UNM. DnB Asset Management AS increased its position in Unum Group by 30.4% in the first quarter. DnB Asset Management AS now owns 19,280 shares of the financial services provider’s stock valued at $904,000 after buying an additional 4,500 shares during the last quarter. Parametrica Management Ltd bought a new stake in shares of Unum Group during the first quarter worth about $475,000. Honkamp Krueger Financial Services Inc. boosted its stake in shares of Unum Group by 1.8% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 26,257 shares of the financial services provider’s stock worth $1,231,000 after buying an additional 472 shares during the period. Regentatlantic Capital LLC boosted its stake in shares of Unum Group by 5.5% in the first quarter. Regentatlantic Capital LLC now owns 30,555 shares of the financial services provider’s stock worth $1,433,000 after buying an additional 1,597 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of Unum Group by 37.2% in the first quarter. Bank of Montreal Can now owns 3,594,160 shares of the financial services provider’s stock worth $168,531,000 after buying an additional 974,090 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.
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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