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

Unum Group (NYSE:UNM - Free Report) had its target price boosted by Wells Fargo & Company from $74.00 to $81.00 in a report released on Tuesday,Benzinga reports. The firm currently has an overweight rating on the financial services provider's stock.

UNM has been the subject of a number of other research reports. Morgan Stanley raised their price target on Unum Group from $62.00 to $64.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $79.00 price target (up previously from $74.00) on shares of Unum Group in a report on Tuesday, January 7th. Barclays raised their price objective on shares of Unum Group from $76.00 to $85.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Piper Sandler increased their target price on Unum Group from $74.00 to $82.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. Finally, Jefferies Financial Group boosted their price target on Unum Group from $91.00 to $96.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $75.45.

Unum Group Price Performance

Shares of NYSE:UNM traded up $1.10 on Tuesday, reaching $72.98. 1,244,385 shares of the company were exchanged, compared to its average volume of 1,218,248. The company has a 50-day moving average of $73.16 and a 200-day moving average of $62.33. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The firm has a market cap of $13.33 billion, a price-to-earnings ratio of 7.90, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81. Unum Group has a 1-year low of $44.83 and a 1-year high of $77.63.

Unum Group (NYSE:UNM - Get Free Report) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.03. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the business posted $1.94 earnings per share. The firm's revenue for the quarter was up 4.0% compared to the same quarter last year. Equities analysts forecast that Unum Group will post 8.54 earnings per share for the current fiscal year.

Unum Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 24th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, January 24th. Unum Group's payout ratio is currently 18.18%.

Insider Buying and Selling at Unum Group

In other Unum Group news, EVP Elizabeth Claire Ahmed sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $64.16, for a total transaction of $320,800.00. Following the sale, the executive vice president now owns 58,741 shares in the company, valued at $3,768,822.56. This represents a 7.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $69.56, for a total value of $104,340.00. Following the sale, the chief accounting officer now directly owns 8,361 shares in the company, valued at approximately $581,591.16. This represents a 15.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 107,914 shares of company stock valued at $7,998,745 over the last three months. 0.93% of the stock is owned by company insiders.

Institutional Trading of Unum Group

A number of institutional investors and hedge funds have recently made changes to their positions in UNM. Capital Performance Advisors LLP acquired a new stake in Unum Group in the third quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Unum Group in the 3rd quarter worth about $37,000. V Square Quantitative Management LLC lifted its position in Unum Group by 38.2% in the 3rd quarter. V Square Quantitative Management LLC now owns 702 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 194 shares during the last quarter. Versant Capital Management Inc boosted its stake in Unum Group by 26.4% during the 4th quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 160 shares during the period. Finally, William B. Walkup & Associates Inc. acquired a new stake in shares of Unum Group in the second quarter valued at approximately $44,000. 86.57% of the stock is currently owned by institutional investors and hedge funds.

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.