Unum Group (NYSE:UNM) Price Target Raised to $102.00

Unum Group (NYSE:UNM) had its price target hoisted by Wells Fargo & Company from $100.00 to $102.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other brokerages also recently issued reports on UNM. Wolfe Research reduced their price target on shares of Unum Group from $102.00 to $100.00 and set an “outperform” rating for the company in a report on Monday, July 6th. Barclays dropped their price objective on shares of Unum Group from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Wednesday, October 7th. Weiss Ratings raised shares of Unum Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Evercore reiterated an “outperform” rating and issued a $106.00 price objective on shares of Unum Group in a research report on Tuesday, July 7th. Finally, Morgan Stanley boosted their target price on shares of Unum Group from $87.00 to $92.00 and gave the company an “equal weight” rating in a research note on Monday, August 24th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.42.

Unum Group Stock Down 0.6%

Shares of Unum Group stock opened at $91.46 on Monday. The stock has a market capitalization of $14.48 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 0.89 and a beta of 0.25. Unum Group has a twelve month low of $69.02 and a twelve month high of $96.77. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.35. The business’s 50 day simple moving average is $92.01 and its 200-day simple moving average is $86.95.

Unum Group (NYSE:UNM) last released its quarterly earnings data 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. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $2.90 billion. Unum Group had a return on equity of 12.60% and a net margin of 5.26%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.92 EPS. Unum Group has set its FY 2026 guidance at 8.600-8.900 EPS. Equities research analysts forecast that Unum Group will post 8.64 earnings per share for the current year.

Unum Group declared that its board has initiated a stock repurchase plan on Wednesday, August 26th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 7% of its shares through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity at Unum Group

In related news, Director Timothy F. Keaney sold 4,300 shares of the business’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 owned 36,502 shares of the company’s stock, valued at $3,431,918.04. The trade was a 10.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa Iglesias sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $94.44, for a total value of $377,760.00. Following the sale, the executive vice president directly owned 25,453 shares in the company, valued at approximately $2,403,781.32. The trade was a 13.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,488 shares of company stock worth $988,396 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Unum Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Canada Pension Plan Investment Board acquired a new position in shares of Unum Group in the second quarter worth about $84,097,000. Donald Smith & CO. Inc. purchased a new position in shares of Unum Group in the second quarter worth approximately $58,064,000. Bank of America Corp DE purchased a new position in shares of Unum Group in the second quarter worth approximately $55,273,000. Freestone Grove Partners LP acquired a new stake in shares of Unum Group during the second quarter valued at approximately $49,065,000. Finally, Algebris UK Ltd. acquired a new stake in shares of Unum Group during the second quarter valued at approximately $35,412,000. Institutional investors own 86.57% of the company’s stock.

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.