Unum Group (NYSE:UNM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo raised Unum Group’s price target from $100 to $102 and maintained an “overweight” rating, implying about 10% upside from the reported share price.
• Analyst sentiment is generally positive: eight analysts rate the stock a Buy and six rate it a Hold, producing a consensus “Moderate Buy” rating and an average price target of $99.42.
• Unum reported quarterly EPS in line with estimates at $2.16 and revenue of $3.39 billion, while its board authorized a $1 billion share buyback covering up to 7% of outstanding shares.

Unum Group (NYSE:UNM - Get Free Report) had its price target raised by analysts at Wells Fargo & Company from $100.00 to $102.00 in a research report issued on Monday, Benzinga reports. The firm currently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's target price would suggest a potential upside of 10.03% from the company's current price.

Several other research analysts have also weighed in on UNM. Evercore reaffirmed an "outperform" rating and set a $106.00 target price on shares of Unum Group in a research note on Tuesday, July 7th. UBS Group set a $94.00 price target on shares of Unum Group in a research report on Tuesday, July 7th. JPMorgan Chase & Co. reduced their price target on shares of Unum Group from $101.00 to $98.00 and set a "neutral" rating on the stock in a research note on Monday, August 3rd. Atlantic Securities set a $88.00 price objective on shares of Unum Group in a report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Unum Group from $110.00 to $108.00 and set an "outperform" rating on the stock in a report on Thursday, July 30th. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $99.42.

Unum Group Trading Up 1.1%

Shares of Unum Group stock traded up $1.04 during trading hours on Monday, hitting $92.71. The company's stock had a trading volume of 130,519 shares, compared to its average volume of 1,553,850. The stock has a market cap of $14.68 billion, a price-to-earnings ratio of 21.67, a P/E/G ratio of 0.97 and a beta of 0.25. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.34 and a current ratio of 0.34. Unum Group has a twelve month low of $69.02 and a twelve month high of $96.77. The firm has a fifty day moving average of $91.90 and a 200-day moving average of $86.57.

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

Unum Group announced that its Board of Directors has initiated a share buyback program on Wednesday, August 26th that allows the company to buy back $1.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 7% of its shares through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.

Insider Transactions at Unum Group

In related news, CAO Walter Lynn Rice, Jr. sold 2,188 shares of Unum Group stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $94.31, for a total value of $206,350.28. Following the completion of the transaction, the chief accounting officer owned 8,154 shares in the company, valued at approximately $769,003.74. The trade was a 21.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy Keaney sold 4,300 shares of the company's stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $94.02, for a total transaction of $404,286.00. Following the sale, the director directly owned 36,502 shares in the company, valued at approximately $3,431,918.04. The trade was a 10.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 10,488 shares of company stock valued at $988,396. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Unum Group

A number of hedge funds have recently added to or reduced their stakes in UNM. Canada Pension Plan Investment Board purchased a new stake in shares of Unum Group in the 2nd quarter valued at about $84,097,000. Donald Smith & CO. Inc. acquired a new stake in shares of Unum Group in the 2nd quarter valued at about $58,064,000. Bank of America Corp DE acquired a new stake in shares of Unum Group in the 2nd quarter valued at about $55,273,000. Freestone Grove Partners LP acquired a new stake in shares of Unum Group in the 2nd quarter valued at about $49,065,000. Finally, Algebris UK Ltd. acquired a new stake in shares of Unum Group in the 2nd quarter valued at about $35,412,000. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Unum Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.