Royal Bank Of Canada Reaffirms “Hold” Rating for Unum Group (NYSE:UNM)

Royal Bank Of Canada reiterated their hold rating on shares of Unum Group (NYSE:UNM) in a research note published on Wednesday, July 12th.

Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research upgraded Unum Group from a hold rating to a buy rating and set a $51.00 target price for the company in a report on Wednesday, June 28th. BidaskClub upgraded Unum Group from a hold rating to a buy rating in a report on Tuesday, July 11th. 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 report on Wednesday, April 19th. Two investment 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 stock. Unum Group presently has an average rating of Hold and a consensus price target of $46.78.

Shares of Unum Group (UNM) traded down 0.48% during trading on Wednesday, hitting $49.70. 743,811 shares of the stock traded hands. The stock has a 50 day moving average price of $48.13 and a 200-day moving average price of $47.04. Unum Group has a 1-year low of $33.25 and a 1-year high of $51.43. The stock has a market cap of $11.22 billion, a price-to-earnings ratio of 11.97 and a beta of 1.56.

Unum Group (NYSE:UNM) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the previous year, the business earned $1.00 EPS. Equities analysts forecast that Unum Group will post $4.17 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, July 31st will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This is a positive change from Unum Group’s previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.85%. Unum Group’s dividend payout ratio is currently 22.17%.

Unum Group announced that its board has approved a stock repurchase program on Thursday, May 25th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 7.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

In other Unum Group news, EVP Breege A. Farrell sold 15,000 shares of the stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $45.47, for a total transaction of $682,050.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Pamela H. Godwin sold 2,500 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $50.71, for a total value of $126,775.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,960 shares of company stock worth $932,391. 0.53% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of UNM. Bronfman E.L. Rothschild L.P. increased its position in shares of Unum Group by 1.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,434 shares of the financial services provider’s stock worth $114,000 after buying an additional 29 shares in the last quarter. Crestwood Advisors Group LLC purchased a new position in Unum Group during the first quarter valued at $150,000. Jacobi Capital Management LLC purchased a new position in Unum Group during the second quarter valued at $159,000. Huntington National Bank increased its position in Unum Group by 25.8% in the second quarter. Huntington National Bank now owns 3,417 shares of the financial services provider’s stock valued at $160,000 after buying an additional 700 shares during the period. Finally, Coastline Trust Co purchased a new position in Unum Group during the first quarter valued at $202,000. Institutional investors own 93.89% of the company’s stock.

Unum Group Company Profile

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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