Unum Group (NYSE:UNM) Stock Price Target Raised at Wells Fargo & Company

Unum Group (NYSE:UNM) had its target price lifted by Wells Fargo & Company from $100.00 to $102.00 in a research note released on Monday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other research firms have also weighed in on UNM. Morgan Stanley lifted their price objective on Unum Group from $87.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Monday, August 24th. Keefe, Bruyette & Woods cut their target price on Unum Group from $110.00 to $108.00 and set an “outperform” rating on the stock in a research report on Thursday, July 30th. Weiss Ratings upgraded Unum Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Jefferies Financial Group raised their target price on Unum Group from $117.00 to $123.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Finally, JPMorgan Chase & Co. lowered their target price on Unum Group from $101.00 to $98.00 and set a “neutral” rating for the company in a report on Monday, August 3rd. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $99.42.

Unum Group Trading Up 0.9%

UNM opened at $92.50 on Monday. Unum Group has a twelve month low of $69.02 and a twelve month high of $96.77. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.35. The company has a fifty day moving average of $91.95 and a 200-day moving average of $86.70. The stock has a market cap of $14.64 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 0.97 and a beta of 0.25.

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

Unum Group announced that its board has approved a share repurchase program on Wednesday, August 26th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7% of its shares through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Unum Group news, CAO Lynn Jr sold 2,188 shares of Unum Group stock in a transaction 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 sale, the chief accounting officer directly owned 8,154 shares of the company’s stock, valued at approximately $769,003.74. The trade was a 21.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lisa Iglesias sold 4,000 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $94.44, for a total transaction of $377,760.00. Following the transaction, the executive vice president owned 25,453 shares in the company, valued at $2,403,781.32. This represents a 13.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 10,488 shares of company stock worth $988,396. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Unum Group

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

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.