Unum Group (NYSE:UNM) Price Target Increased to $69.00 by Analysts at Wells Fargo & Company (2024)

Unum Group (NYSE:UNM - Get Free Report) had its target price raised by Wells Fargo & Company from $66.00 to $69.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's price objective points to a potential upside of 29.21% from the stock's current price.

Several other brokerages also recently issued reports on UNM. JPMorgan Chase & Co. increased their price objective on shares of Unum Group from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 31st. Citigroup increased their target price on Unum Group from $62.00 to $69.00 and gave the stock a "buy" rating in a report on Tuesday, July 23rd. Evercore ISI lifted their price target on Unum Group from $56.00 to $58.00 and gave the company an "in-line" rating in a research note on Wednesday, June 26th. Piper Sandler started coverage on Unum Group in a research report on Thursday, July 11th. They set an "overweight" rating and a $57.00 price objective for the company. Finally, Jefferies Financial Group lifted their target price on Unum Group from $63.00 to $64.00 and gave the company a "buy" rating in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $61.78.

Get Our Latest Analysis on Unum Group

Unum Group Trading Down 0.4 %

Unum Group stock traded down $0.23 during mid-day trading on Monday, hitting $53.40. 667,510 shares of the company's stock were exchanged, compared to its average volume of 1,262,581. The company's 50 day simple moving average is $51.99 and its 200-day simple moving average is $51.38. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $9.92 billion, a P/E ratio of 7.93, a PEG ratio of 0.73 and a beta of 0.81. Unum Group has a fifty-two week low of $41.75 and a fifty-two week high of $58.17.

Unum Group (NYSE:UNM - Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $2.16 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.14. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter last year, the firm posted $2.06 earnings per share. Unum Group's revenue was up 3.9% compared to the same quarter last year. On average, equities analysts anticipate that Unum Group will post 8.53 earnings per share for the current year.

Unum Group declared that its board has authorized a stock repurchase plan on Tuesday, July 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Institutional Trading of Unum Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in Unum Group by 361.5% in the second quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider's stock valued at $26,000 after buying an additional 394 shares during the period. V Square Quantitative Management LLC acquired a new stake in Unum Group during the 2nd quarter valued at $26,000. Salomon & Ludwin LLC bought a new position in Unum Group during the first quarter worth $28,000. 1620 Investment Advisors Inc. acquired a new position in shares of Unum Group in the second quarter valued at $29,000. Finally, MCF Advisors LLC bought a new position in shares of Unum Group in the first quarter valued at about $35,000. 86.57% of the stock is owned by institutional investors.

About Unum Group

(Get Free Report)

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.

See Also

• Five stocks we like better than Unum Group
• What is Short Interest? How to Use It
• How to Invest in Silver: A Beginner's Guide
• Investing In Preferred Stock vs. Common Stock
• Monday.com's Stock Results Will Brighten Any Investor's Week
• 3 Must-Watch Stocks After a Bullish Goldman Sachs Recommendation

Should you invest $1,000 in Unum Group right now?

Before you consider Unum Group, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Unum Group wasn't on the list.

While Unum Group currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here