JP Morgan Upgrades Unum Group (UNM)

Fintel reports that on January 3, 2024, JP Morgan upgraded their outlook for Unum Group (NYSE:UNM) from Neutral to Overweight .

Analyst Price Forecast Suggests 19.89% Upside

As of December 15, 2023, the average one-year price target for Unum Group is 55.45. The forecasts range from a low of 45.45 to a high of $64.05. The average price target represents an increase of 19.89% from its latest reported closing price of 46.25.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Unum Group is 12,746MM, an increase of 4.03%. The projected annual non-GAAP EPS is 6.81.

Unum Group Declares $0.36 Dividend

On October 13, 2023 the company declared a regular quarterly dividend of $0.36 per share ($1.46 annualized). Shareholders of record as of October 27, 2023 received the payment on November 17, 2023. Previously, the company paid $0.36 per share.

At the current share price of $46.25 / share, the stock's dividend yield is 3.16%.

Looking back five years and taking a sample every week, the average dividend yield has been 4.16%, the lowest has been 2.60%, and the highest has been 10.98%. The standard deviation of yields is 1.34 (n=234).

The current dividend yield is 0.75 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.25. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.28%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 1114 funds or institutions reporting positions in Unum Group. This is an increase of 47 owner(s) or 4.40% in the last quarter. Average portfolio weight of all funds dedicated to UNM is 0.27%, an increase of 7.37%. Total shares owned by institutions increased in the last three months by 4.57% to 177,451K shares. UNM / Unum Group Put/Call Ratios The put/call ratio of UNM is 0.54, indicating a bullish outlook.

What are Other Shareholders Doing?

UNM / Unum Group Shares Held by Institutions

Norges Bank holds 10,603K shares representing 5.44% ownership of the company. In it's prior filing, the firm reported owning 10,686K shares, representing a decrease of 0.78%. The firm increased its portfolio allocation in UNM by 16.38% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 5,747K shares representing 2.95% ownership of the company. In it's prior filing, the firm reported owning 5,619K shares, representing an increase of 2.22%. The firm increased its portfolio allocation in UNM by 3.36% over the last quarter.

FLPSX - Fidelity Low-Priced Stock Fund holds 5,729K shares representing 2.94% ownership of the company. In it's prior filing, the firm reported owning 5,735K shares, representing a decrease of 0.10%. The firm increased its portfolio allocation in UNM by 13.48% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,139K shares representing 2.63% ownership of the company. In it's prior filing, the firm reported owning 5,222K shares, representing a decrease of 1.62%. The firm increased its portfolio allocation in UNM by 5.33% over the last quarter.

Viking Global Investors holds 4,778K shares representing 2.45% ownership of the company. In it's prior filing, the firm reported owning 5,271K shares, representing a decrease of 10.32%. The firm decreased its portfolio allocation in UNM by 7.34% over the last quarter.

Unum Group Background Information
(This description is provided by the company.)

Unum Group provides a broad portfolio of financial protection benefits and services through the workplace, and is a leading provider of disability income protection worldwide. Through its Unum US, Unum UK, Unum Poland, and Colonial Life businesses, the company provides disability, life, accident, critical illness, dental and vision benefits that protect millions of working people and their families. Unum also provides leave and absence management services that streamline the leave experience for employers and employees, and stop-loss coverage to help self-insured employers protect against medical costs. Unum reported revenues of $13.2 billion in 2020 and provided $7.6 billion in benefits.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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