Morgan Stanley Boosts Unum Group (NYSE:UNM) Price Target to $52.00

Unum Group (NYSE:UNM) had its target price boosted by Morgan Stanley from $50.00 to $52.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

A number of other research firms have also recently issued reports on UNM. StockNews.com upgraded Unum Group from a hold rating to a buy rating in a report on Wednesday, January 31st. Wells Fargo & Company raised their price target on shares of Unum Group from $64.00 to $66.00 and gave the stock an overweight rating in a report on Thursday, April 11th. The Goldman Sachs Group upped their price objective on shares of Unum Group from $47.00 to $52.00 and gave the company a neutral rating in a report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. upped their price target on Unum Group from $56.00 to $58.00 and gave the stock an overweight rating in a research note on Tuesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $56.38.

Unum Group Trading Up 1.3 %

Shares of UNM stock opened at $50.79 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.27 and a current ratio of 0.27. Unum Group has a fifty-two week low of $40.04 and a fifty-two week high of $54.57. The company has a market cap of $9.75 billion, a PE ratio of 7.83, a P/E/G ratio of 1.01 and a beta of 0.87. The stock’s fifty day moving average price is $50.96 and its two-hundred day moving average price is $47.58.

Unum Group (NYSE:UNM) last announced its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $1.79 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the company posted $1.43 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. Equities analysts predict that Unum Group will post 8.19 EPS for the current fiscal year.

Unum Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, April 26th will be paid a $0.365 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 2.87%. Unum Group’s dividend payout ratio (DPR) is 22.50%.

Insider Activity

In other news, CEO Richard P. Mckenney sold 50,000 shares of the stock in a transaction that occurred 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 owns 1,076,753 shares of the company’s stock, valued at $52,922,409.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Unum Group news, CEO Richard P. Mckenney sold 50,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,076,753 shares of the company’s stock, valued at approximately $52,922,409.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven Andrew Zabel sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $51.06, for a total value of $510,600.00. Following the transaction, the chief financial officer now directly owns 122,246 shares in the company, valued at $6,241,880.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,000 shares of company stock valued at $4,018,100. 0.94% of the stock is currently owned by insiders.

Institutional Trading of Unum Group

Several large investors have recently bought and sold shares of the company. Nordea Investment Management AB lifted its position in Unum Group by 79.8% during the 4th quarter. Nordea Investment Management AB now owns 1,952,763 shares of the financial services provider’s stock valued at $88,616,000 after acquiring an additional 866,531 shares during the period. American Century Companies Inc. grew its holdings in shares of Unum Group by 14.9% during the third quarter. American Century Companies Inc. now owns 222,878 shares of the financial services provider’s stock valued at $10,963,000 after buying an additional 28,898 shares during the last quarter. Boone Capital Management LLC increased its position in shares of Unum Group by 1.2% during the third quarter. Boone Capital Management LLC now owns 867,565 shares of the financial services provider’s stock valued at $42,676,000 after acquiring an additional 10,000 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Unum Group by 91.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 63,810 shares of the financial services provider’s stock valued at $3,138,000 after acquiring an additional 30,555 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Unum Group by 5,728.7% in the 4th quarter. International Assets Investment Management LLC now owns 221,081 shares of the financial services provider’s stock worth $9,997,000 after acquiring an additional 217,288 shares during the last quarter. 86.57% of the stock is owned by institutional investors.

Unum Group Company Profile

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.