Wells Fargo & Company Issues Pessimistic Forecast for Unum Group (NYSE:UNM) Stock Price

Unum Group (NYSE:UNM) had its price target reduced by equities researchers at Wells Fargo & Company from $100.00 to $98.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 27.80% from the company’s current price.

UNM has been the topic of a number of other research reports. Evercore ISI reduced their price objective on Unum Group from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $95.00 price objective (down previously from $100.00) on shares of Unum Group in a research report on Thursday, July 31st. JPMorgan Chase & Co. lifted their price objective on Unum Group from $87.00 to $96.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Wolfe Research upgraded Unum Group to a “strong-buy” rating in a research report on Tuesday, September 16th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Unum Group in a research report on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.23.

Unum Group Stock Performance

NYSE UNM opened at $76.68 on Wednesday. The company has a market cap of $13.06 billion, a PE ratio of 9.17, a price-to-earnings-growth ratio of 1.33 and a beta of 0.36. The stock’s 50 day simple moving average is $73.14 and its 200-day simple moving average is $77.11. Unum Group has a 1-year low of $61.28 and a 1-year high of $84.48. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.30 and a quick ratio of 0.30.

Unum Group (NYSE:UNM) last announced its quarterly earnings data 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 return on equity of 13.44% and a net margin of 11.77%.The company had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter in the previous year, the business posted $2.16 EPS. The business’s quarterly revenue 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. As a group, equities research analysts anticipate that Unum Group will post 9.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Unum Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quintet Private Bank Europe S.A. acquired a new stake in Unum Group during the second quarter worth $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of Unum Group in the second quarter valued at $30,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Unum Group in the first quarter valued at $30,000. Atwood & Palmer Inc. grew its stake in shares of Unum Group by 100.0% in the second quarter. Atwood & Palmer Inc. now owns 400 shares of the financial services provider’s stock valued at $32,000 after buying an additional 200 shares in the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Unum Group in the first quarter valued at $35,000. Institutional investors and hedge funds own 86.57% of the company’s stock.

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.