Wells Fargo & Company Issues Positive Forecast for Unum Group (NYSE:UNM) Stock Price

Unum Group (NYSE:UNM - Free Report) had its target price lifted by Wells Fargo & Company from $81.00 to $91.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an overweight rating on the financial services provider's stock.

UNM has been the topic of a number of other reports. Barclays upped their target price on shares of Unum Group from $76.00 to $85.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Morgan Stanley upped their target price on shares of Unum Group from $62.00 to $64.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. BMO Capital Markets assumed coverage on shares of Unum Group in a research report on Thursday, January 23rd. They set an "outperform" rating and a $91.00 price objective for the company. Keefe, Bruyette & Woods raised their price objective on shares of Unum Group from $88.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Finally, Piper Sandler raised their price objective on shares of Unum Group from $82.00 to $87.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Unum Group presently has a consensus rating of "Moderate Buy" and an average target price of $81.17.

Unum Group Stock Performance

Shares of UNM stock traded down $0.72 on Wednesday, reaching $74.07. The stock had a trading volume of 1,204,075 shares, compared to its average volume of 1,114,343. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32. The firm's 50-day moving average is $74.28 and its two-hundred day moving average is $66.61. The firm has a market capitalization of $13.53 billion, a price-to-earnings ratio of 7.82, a P/E/G ratio of 1.14 and a beta of 0.80. Unum Group has a 12 month low of $48.38 and a 12 month high of $79.43.

Unum Group (NYSE:UNM - Get Free Report) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share (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%. On average, research analysts expect that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group declared that its Board of Directors has approved a stock buyback 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 purchase up to 7.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

Unum Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, January 24th. This represents a $1.68 annualized dividend and a dividend yield of 2.27%. Unum Group's dividend payout ratio is presently 17.74%.

Insider Transactions at Unum Group

In other news, EVP Timothy Gerald Arnold sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $76.92, for a total transaction of $769,200.00. Following the transaction, the executive vice president now directly owns 54,827 shares of the company's stock, valued at approximately $4,217,292.84. This trade represents a 15.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.93% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Barrett & Company Inc. increased its stake in Unum Group by 300.0% in the fourth quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 297 shares during the last quarter. Capital Performance Advisors LLP bought a new position in Unum Group in the third quarter valued at approximately $31,000. Kestra Investment Management LLC bought a new position in Unum Group in the fourth quarter valued at approximately $38,000. Millstone Evans Group LLC bought a new position in Unum Group in the fourth quarter valued at approximately $45,000. Finally, Quarry LP increased its stake in Unum Group by 4,794.7% in the third quarter. Quarry LP now owns 930 shares of the financial services provider's stock valued at $55,000 after acquiring an additional 911 shares during the last quarter. 86.57% of the stock is owned by institutional investors.

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.