Wells Fargo & Company Forecasts Strong Price Appreciation for Unum Group (NYSE:UNM) Stock

Unum Group (NYSE:UNM) had its price target upped by stock analysts at Wells Fargo & Company from $100.00 to $102.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 10.63% from the stock’s previous close.

UNM has been the subject of several other research reports. Barclays cut their price objective on Unum Group from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Wednesday, October 7th. Morgan Stanley lifted their target price on Unum Group from $87.00 to $92.00 and gave the stock an “equal weight” rating in a report on Monday, August 24th. Evercore reaffirmed an “outperform” rating and set a $106.00 target price on shares of Unum Group in a report on Tuesday, July 7th. Jefferies Financial Group boosted their price target on shares of Unum Group from $117.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Unum Group from $110.00 to $108.00 and set an “outperform” rating for the company in a report on Thursday, July 30th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $99.42.

Unum Group Stock Performance

UNM opened at $92.20 on Monday. The company has a market capitalization of $14.60 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 0.98 and a beta of 0.25. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.34 and a quick ratio of 0.34. Unum Group has a 1-year low of $69.02 and a 1-year high of $96.77. The business has a 50 day moving average price of $91.96 and a two-hundred day moving average price of $86.83.

Unum Group (NYSE:UNM) last issued its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.16. Unum Group had a return on equity of 12.60% and a net margin of 5.26%. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same period last year, the company posted $1.92 EPS. The firm’s quarterly revenue was up .3% on a year-over-year basis. Unum Group has set its FY 2026 guidance at 8.600-8.900 EPS. Research analysts predict that Unum Group will post 8.64 EPS for the current fiscal year.

Unum Group declared that its board has initiated a stock buyback program on Wednesday, August 26th that allows the company to buy back $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 7% of its shares through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Unum Group

In other news, CAO Walter Lynn Rice, Jr. sold 2,188 shares of the firm’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $94.31, for a total transaction of $206,350.28. Following the completion of the sale, the chief accounting officer directly owned 8,154 shares of the company’s stock, valued at $769,003.74. This trade represents a 21.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Timothy Keaney sold 4,300 shares of Unum Group stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $94.02, for a total value of $404,286.00. Following the completion of the transaction, the director owned 36,502 shares in the company, valued at $3,431,918.04. The trade was a 10.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 10,488 shares of company stock valued at $988,396. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Unum Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. SHP Wealth Management bought a new stake in shares of Unum Group during the 4th quarter worth about $25,000. MBM Wealth Consultants LLC acquired a new position in shares of Unum Group during the 1st quarter valued at about $29,000. CX Institutional raised its stake in shares of Unum Group by 57.8% in the 3rd quarter. CX Institutional now owns 352 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 129 shares in the last quarter. Nalls Sherbakoff Group LLC bought a new position in shares of Unum Group in the 4th quarter valued at approximately $39,000. Finally, Ancora Advisors LLC bought a new position in shares of Unum Group in the 2nd quarter valued at approximately $39,000. 86.57% of the stock is owned by institutional investors and hedge funds.

About Unum Group

Unum Group is an insurance company that provides employee benefits and related financial protection products to individuals, employers and their workforces. Its offerings include disability insurance, group and individual life insurance, accidental death and dismemberment coverage, long-term care insurance, and supplemental health benefits.

The company serves employers through workplace benefits programs, including absence-management and leave-administration services. Through its Colonial Life business, Unum also offers voluntary benefits such as accident, critical illness, hospital indemnity and dental insurance, which employees may obtain through the workplace.

Unum Group traces its history to 1848, when Union Mutual Life Insurance Company was established in Maine.