Unum Group (NYSE:UNM) Given New $98.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo & Company has reduced the price target for Unum Group from $100.00 to $98.00, indicating a potential upside of 24.58% from the current stock price.
• Multiple brokerages have varying ratings for Unum Group, with Wolfe Research raising it to a "strong-buy" and Piper Sandler increasing the price target from $88.00 to $92.00.
• Unum Group reported a missed earnings consensus, posting an EPS of $2.07 compared to expectations of $2.23, while revenue increased 4% year-over-year.

Unum Group (NYSE:UNM - Get Free Report) had its price objective cut by research analysts at Wells Fargo & Company from $100.00 to $98.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's price objective would suggest a potential upside of 24.58% from the stock's previous close.

Several other brokerages have also issued reports on UNM. Wolfe Research raised Unum Group to a "strong-buy" rating in a research report on Tuesday, September 16th. Barclays reissued an "overweight" rating and issued a $95.00 price objective on shares of Unum Group in a research report on Wednesday. Piper Sandler lifted their price objective on Unum Group from $88.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. Weiss Ratings reissued a "buy (b)" rating on shares of Unum Group in a research report on Saturday, September 27th. Finally, Evercore ISI reduced their target price on Unum Group from $100.00 to $96.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Unum Group currently has an average rating of "Moderate Buy" and a consensus price target of $91.07.

Unum Group Trading Up 0.5%

Shares of UNM stock traded up $0.41 during mid-day trading on Wednesday, reaching $78.67. 61,173 shares of the stock traded hands, compared to its average volume of 1,418,623. The stock's fifty day simple moving average is $72.90 and its two-hundred day simple moving average is $77.15. Unum Group has a 1-year low of $60.48 and a 1-year high of $84.48. The company has a market cap of $13.40 billion, a price-to-earnings ratio of 9.41, a price-to-earnings-growth ratio of 1.33 and a beta of 0.36. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.31.

Unum Group (NYSE:UNM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $2.07 EPS for the quarter, missing analysts' consensus estimates of $2.23 by ($0.16). Unum Group had a net margin of 11.77% and a return on equity of 13.44%. The firm had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the business posted $2.16 earnings per share. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. Unum Group has set its FY 2025 guidance at 8.500-8.50 EPS. On average, research analysts anticipate that Unum Group will post 9.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UNM. Fifth Third Bancorp increased its holdings in Unum Group by 4.0% in the first quarter. Fifth Third Bancorp now owns 3,558 shares of the financial services provider's stock valued at $290,000 after purchasing an additional 136 shares during the last quarter. Advisors Capital Management LLC increased its holdings in shares of Unum Group by 2.2% in the first quarter. Advisors Capital Management LLC now owns 6,308 shares of the financial services provider's stock worth $514,000 after acquiring an additional 136 shares in the last quarter. NDVR Inc. increased its holdings in shares of Unum Group by 3.3% in the second quarter. NDVR Inc. now owns 4,526 shares of the financial services provider's stock worth $366,000 after acquiring an additional 145 shares in the last quarter. Waterfront Wealth Inc. grew its holdings in shares of Unum Group by 0.5% during the second quarter. Waterfront Wealth Inc. now owns 29,350 shares of the financial services provider's stock worth $2,370,000 after buying an additional 158 shares in the last quarter. Finally, Ritholtz Wealth Management grew its holdings in shares of Unum Group by 0.4% during the second quarter. Ritholtz Wealth Management now owns 42,327 shares of the financial services provider's stock worth $3,418,000 after buying an additional 160 shares in the last quarter. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

About Unum Group

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

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