Wells Fargo & Company Forecasts Strong Price Appreciation for Unum Group (NYSE:UNM) Stock

Unum Group (NYSE:UNM) had its price target lifted by investment analysts at Wells Fargo & Company from $81.00 to $91.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 21.75% from the company’s previous close.

UNM has been the subject of a number of other research reports. StockNews.com upgraded shares of Unum Group from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Keefe, Bruyette & Woods raised their target price on shares of Unum Group from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Piper Sandler boosted their price target on shares of Unum Group from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. BMO Capital Markets began coverage on shares of Unum Group in a research note on Thursday, January 23rd. They set an “outperform” rating and a $91.00 price objective on the stock. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $79.00 price objective (up previously from $74.00) on shares of Unum Group in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $81.17.

Unum Group Price Performance

Shares of UNM opened at $74.75 on Wednesday. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. Unum Group has a 1-year low of $48.38 and a 1-year high of $79.43. The firm has a market cap of $13.65 billion, a PE ratio of 7.89, a P/E/G ratio of 1.12 and a beta of 0.80. The firm has a fifty day simple moving average of $74.28 and a two-hundred day simple moving average of $66.61.

Unum Group (NYSE:UNM) last posted its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). Unum Group had a return on equity of 14.91% and a net margin of 13.81%. On average, equities analysts anticipate that Unum Group will post 9.15 EPS for the current year.

Unum Group declared that its board has authorized a share repurchase program on Tuesday, February 18th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 7.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity at Unum Group

In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $76.92, for a total value of $769,200.00. Following the completion of the sale, the executive vice president now directly owns 54,827 shares in the company, valued at $4,217,292.84. This represents a 15.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Unum Group by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 20,497,586 shares of the financial services provider’s stock worth $1,496,939,000 after buying an additional 1,596,078 shares during the last quarter. Norges Bank acquired a new stake in Unum Group in the 4th quarter valued at about $1,003,918,000. Charles Schwab Investment Management Inc. lifted its stake in Unum Group by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,552,252 shares of the financial services provider’s stock worth $405,481,000 after acquiring an additional 51,744 shares during the last quarter. Northern Trust Corp lifted its position in shares of Unum Group by 33.2% during the 4th quarter. Northern Trust Corp now owns 1,930,349 shares of the financial services provider’s stock worth $140,973,000 after purchasing an additional 480,926 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in Unum Group by 15.4% in the fourth quarter. First Trust Advisors LP now owns 1,708,452 shares of the financial services provider’s stock valued at $124,768,000 after buying an additional 227,644 shares in the last quarter. 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.