Wells Fargo & Company Cuts Unum Group (NYSE:UNM) Price Target to $95.00

Unum Group (NYSE:UNM) had its target price reduced by investment analysts at Wells Fargo & Company from $97.00 to $95.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 26.20% from the stock’s previous close.

UNM has been the subject of a number of other reports. JPMorgan Chase & Co. upped their target price on Unum Group from $81.00 to $87.00 and gave the company a “neutral” rating in a research report on Wednesday, April 2nd. Piper Sandler increased their price objective on Unum Group from $87.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods cut their target price on shares of Unum Group from $103.00 to $102.00 and set an “outperform” rating on the stock in a report on Wednesday. UBS Group upped their price target on shares of Unum Group from $75.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, April 2nd. Finally, BMO Capital Markets raised their price objective on shares of Unum Group from $95.00 to $102.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $88.36.

Unum Group Stock Performance

Shares of UNM opened at $75.28 on Thursday. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32. Unum Group has a 52-week low of $48.38 and a 52-week high of $84.48. The stock has a 50 day moving average price of $77.81 and a 200 day moving average price of $72.73. The company has a market capitalization of $13.31 billion, a price-to-earnings ratio of 7.95, 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, February 4th. The financial services provider reported $2.03 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.11). Unum Group had a return on equity of 14.91% and a net margin of 13.81%. Research analysts predict that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 7.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity at Unum Group

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

Hedge Funds Weigh In On Unum Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Curat Global LLC acquired a new position in shares of Unum Group in the 1st quarter valued at approximately $179,000. Vest Financial LLC boosted its position in shares of Unum Group by 1,740.3% during the first quarter. Vest Financial LLC now owns 627,582 shares of the financial services provider’s stock worth $51,123,000 after buying an additional 593,479 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Unum Group by 60.3% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,282 shares of the financial services provider’s stock worth $104,000 after buying an additional 482 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in Unum Group in the 1st quarter valued at approximately $462,000. Finally, Merit Financial Group LLC raised its stake in shares of Unum Group by 168.5% in the 1st quarter. Merit Financial Group LLC now owns 12,070 shares of the financial services provider’s stock worth $983,000 after buying an additional 7,574 shares in the last quarter. Hedge funds and other institutional investors 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.