Unum Group’s “Neutral” Rating Reaffirmed at Zacks (UNM)
Unum Group (NYSE:UNM)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Friday, Stock Ratings Network.com reports. They currently have a $32.00 price objective on the stock. Zacks‘ price target suggests a potential upside of 6.14% from the stock’s previous close.
Zacks‘ analyst wrote, “Unum’s second-quarter earnings surpassed the Zacks Consensus Estimate and the year-ago numbers. The improvement was driven by excellent risk results across its core operating segments. Unum came up with solid performances at the Unum U.S. and Colonial Life segment. The underperforming segments of the company are also approaching a gradual recovery. However, soft results at Unum U.K. remain a matter of concern. With $98 million share buybacks in the second quarter, Unum has bought back $2.4 billion over the last 5 years. Unum expects $500 million of repurchases in 2013. It also engages in consistent dividend payouts. However, performance at Unum U.K. has remained soft over the last few quarters. Also, low interest rate environment along with increasing debt burden keeps us cautious. We thus retain our Neutral recommendation on Unum.”
UNM has been the subject of a number of other recent research reports. Analysts at Keefe, Bruyette & Woods cut their price target on shares of Unum Group (NYSE:UNM) from $33.00 to $32.00 in a research note to investors on Wednesday, August 7th. They now have a “market perform” rating on the stock. Separately, analysts at Barclays Capital raised their price target on shares of Unum Group (NYSE:UNM) from $34.00 to $37.00 in a research note to investors on Wednesday, August 7th. They now have an “overweight” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of Unum Group (NYSE:UNM) from $31.00 to $36.00 in a research note to investors on Tuesday, August 6th. They now have an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. Unum Group has an average rating of “Hold” and a consensus target price of $31.93.
Unum Group (NYSE:UNM) traded up 1.46% during mid-day trading on Friday, hitting $30.59. 389,694 shares of the company’s stock traded hands. Unum Group has a 52 week low of $19.04 and a 52 week high of $32.94. The stock has a 50-day moving average of $30.33 and a 200-day moving average of $29.20. The company has a market cap of $8.063 billion and a P/E ratio of 9.18.
Unum Group (NYSE:UNM) last released its earnings data on Monday, August 5th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.02. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter last year, the company posted $0.79 earnings per share. Unum Group’s revenue was down .6% compared to the same quarter last year. Analysts expect that Unum Group will post $3.26 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 15th. Stockholders of record on Monday, October 28th will be given a dividend of $0.15 per share. This represents a $0.58 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, October 24th.
Unum Group is a provider of disability insurance products in the United States and the United Kingdom.
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