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

Unum Group (NYSE:UNM) had its price target lowered by research analysts at Wells Fargo & Company from $97.00 to $95.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 28.70% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. BMO Capital Markets boosted their target price 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. StockNews.com lowered Unum Group from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Piper Sandler raised their target price 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 decreased their price target on Unum Group from $103.00 to $102.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Barclays increased their price target on Unum Group from $76.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.07.

Unum Group Stock Down 4.0 %

Shares of Unum Group stock traded down $3.07 during trading on Thursday, reaching $73.82. 922,835 shares of the company traded hands, compared to its average volume of 1,528,462. The firm has a market capitalization of $13.05 billion, a PE ratio of 7.79, a P/E/G ratio of 1.14 and a beta of 0.46. Unum Group has a 1-year low of $48.38 and a 1-year high of $84.48. The company has a 50 day moving average price of $77.86 and a 200-day moving average price of $72.61. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.28.

Unum Group (NYSE:UNM) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. As a group, equities research analysts expect that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 7.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Unum Group news, 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 value of $4,099,500.00. Following the sale, the chief executive officer now directly owns 980,637 shares in the company, valued at $80,402,427.63. This represents a 4.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lisa G. Iglesias sold 7,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $82.75, for a total transaction 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 disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Unum Group

Large investors have recently added to or reduced their stakes in the company. Barrett & Company Inc. grew its holdings in shares of Unum Group by 300.0% during the 4th quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 297 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of Unum Group in the fourth quarter worth about $38,000. Millstone Evans Group LLC bought a new position in Unum Group during the 4th quarter worth approximately $45,000. Versant Capital Management Inc increased its stake in Unum Group by 26.4% in the 4th quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 160 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Unum Group in the 3rd quarter worth approximately $58,000. 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.