Wells Fargo & Company Raises Unum Group (NYSE:UNM) Price Target to $97.00

Unum Group (NYSE:UNM) had its target price increased by research analysts at Wells Fargo & Company from $95.00 to $97.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 21.75% from the company’s current price.

A number of other research firms have also commented on UNM. StockNews.com lowered Unum Group from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. raised their price target on Unum Group from $81.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 2nd. Piper Sandler lifted their price target on shares of Unum Group from $87.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. BMO Capital Markets upped their price objective on shares of Unum Group from $95.00 to $102.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Finally, Raymond James raised shares of Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 target price on the stock in a research note on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.50.

Unum Group Stock Performance

NYSE:UNM opened at $79.67 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.29. Unum Group has a fifty-two week low of $48.38 and a fifty-two week high of $84.48. The business has a 50 day moving average price of $78.42 and a 200-day moving average price of $74.51. The firm has a market cap of $14.04 billion, a PE ratio of 8.41, a price-to-earnings-growth ratio of 1.14 and a beta of 0.46.

Unum Group (NYSE:UNM) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $2.04 earnings per share for the quarter, missing the consensus estimate of $2.19 by ($0.15). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same period in the previous year, the company earned $2.12 EPS. The company’s quarterly revenue was down 3.4% on a year-over-year basis. Equities research analysts predict that Unum Group will post 9.14 earnings per share for the current year.

Unum Group declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 18th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 7.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Unum Group news, EVP Lisa G. Iglesias sold 7,000 shares of Unum Group stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $82.75, for a total value of $579,250.00. Following the completion of the transaction, the executive vice president now directly owns 31,284 shares of the company’s stock, valued at approximately $2,588,751. The trade was a 18.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard P. Mckenney sold 50,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the sale, the chief executive officer now owns 980,637 shares in the company, valued at approximately $80,402,427.63. The trade was a 4.85 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Franklin Resources Inc. increased its holdings in Unum Group by 50.0% in the 3rd quarter. Franklin Resources Inc. now owns 469,342 shares of the financial services provider’s stock worth $29,554,000 after buying an additional 156,380 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Unum Group by 44.1% in the fourth quarter. Blue Trust Inc. now owns 16,495 shares of the financial services provider’s stock worth $1,205,000 after acquiring an additional 5,047 shares during the period. Picton Mahoney Asset Management bought a new stake in shares of Unum Group in the fourth quarter worth approximately $8,816,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Unum Group by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,552,252 shares of the financial services provider’s stock valued at $405,481,000 after purchasing an additional 51,744 shares during the last quarter. Finally, Oak Thistle LLC lifted its position in Unum Group by 362.9% during the fourth quarter. Oak Thistle LLC now owns 19,461 shares of the financial services provider’s stock valued at $1,421,000 after purchasing an additional 15,257 shares during the period. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Unum Group Company Profile

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.