Unum (UNM) Given New $60.00 Price Target at Morgan Stanley

Unum (NYSE:UNM) had its price target cut by Morgan Stanley from $61.00 to $60.00 in a research report sent to investors on Thursday. They currently have an equal weight rating on the financial services provider’s stock.

UNM has been the subject of a number of other research reports. UBS initiated coverage on Unum in a report on Friday, March 2nd. They issued a neutral rating and a $57.00 price objective for the company. Bank of America initiated coverage on Unum in a report on Monday, March 26th. They issued an underperform rating and a $50.00 price objective for the company. Royal Bank of Canada reiterated a hold rating and issued a $54.00 price objective on shares of Unum in a report on Thursday, February 1st. Deutsche Bank initiated coverage on Unum in a report on Tuesday, January 2nd. They issued a hold rating and a $58.00 price objective for the company. Finally, Zacks Investment Research downgraded Unum from a buy rating to a hold rating in a report on Tuesday, March 13th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Unum currently has an average rating of Hold and an average target price of $56.08.

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NYSE UNM opened at $46.59 on Thursday. The stock has a market capitalization of $10,609.47, a P/E ratio of 10.86, a P/E/G ratio of 1.32 and a beta of 1.46. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.29. Unum has a 12 month low of $43.55 and a 12 month high of $58.73.

Unum (NYSE:UNM) last released its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.84 billion. Unum had a return on equity of 10.43% and a net margin of 8.81%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.99 earnings per share. equities research analysts predict that Unum will post 5.17 EPS for the current year.

In other Unum news, CFO John F. Mcgarry sold 4,588 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $58.19, for a total value of $266,975.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christopher J. Jerome sold 7,806 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $50.90, for a total value of $397,325.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,829 shares of company stock valued at $999,888. Insiders own 0.53% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. grew its stake in Unum by 14.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 8,424 shares of the financial services provider’s stock valued at $462,000 after acquiring an additional 1,082 shares during the period. Eagle Asset Management Inc. grew its stake in Unum by 1.9% in the fourth quarter. Eagle Asset Management Inc. now owns 58,376 shares of the financial services provider’s stock valued at $3,204,000 after acquiring an additional 1,101 shares during the period. AGF Investments America Inc. grew its stake in Unum by 2.8% in the fourth quarter. AGF Investments America Inc. now owns 43,882 shares of the financial services provider’s stock valued at $2,409,000 after acquiring an additional 1,186 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Unum by 8.3% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,354 shares of the financial services provider’s stock valued at $938,000 after acquiring an additional 1,399 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its stake in Unum by 3.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 46,072 shares of the financial services provider’s stock valued at $2,529,000 after acquiring an additional 1,438 shares during the period. 92.98% of the stock is owned by hedge funds and other institutional investors.

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About Unum

Unum Group, together with its subsidiaries, provides financial protection benefit solutions in the United States, the United Kingdom, and internationally. It operates through Unum US, Unum UK, Colonial Life, and Closed Block segments. 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.

Analyst Recommendations for Unum (NYSE:UNM)

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