Truist Financial Issues Pessimistic Forecast for Unum Group (NYSE:UNM) Stock Price

Unum Group (NYSE:UNM) had its price target decreased by stock analysts at Truist Financial from $96.00 to $85.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial‘s price objective suggests a potential upside of 14.86% from the stock’s current price.

Several other research firms have also recently issued reports on UNM. Atlantic Securities set a $88.00 price target on shares of Unum Group in a report on Wednesday, July 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Unum Group in a report on Monday, October 26th. Jefferies Financial Group upped their target price on Unum Group from $117.00 to $123.00 and gave the company a “buy” rating in a report on Friday, July 10th. Wells Fargo & Company raised their price target on Unum Group from $100.00 to $102.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. Finally, Keefe, Bruyette & Woods reduced their price objective on Unum Group from $110.00 to $108.00 and set an “outperform” rating for the company in a research report on Thursday, July 30th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Unum Group presently has an average rating of “Moderate Buy” and an average price target of $97.83.

Unum Group Trading Down 1.1%

UNM stock traded down $0.79 during midday trading on Thursday, reaching $74.00. 1,478,905 shares of the company’s stock traded hands, compared to its average volume of 1,594,086. Unum Group has a fifty-two week low of $69.02 and a fifty-two week high of $96.77. The business has a 50-day moving average price of $92.00 and a two-hundred day moving average price of $84.05. The company has a market capitalization of $11.71 billion, a P/E ratio of 52.52, a PEG ratio of 0.88 and a beta of 0.25. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.34 and a quick ratio of 0.34.

Unum Group (NYSE:UNM) last posted its earnings results on Tuesday, November 3rd. The financial services provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.04. The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $2.91 billion. Unum Group had a net margin of 1.94% and a return on equity of 12.52%. During the same quarter in the previous year, the business posted $2.09 EPS. Equities research analysts forecast that Unum Group will post 8.64 EPS for the current fiscal year.

Unum Group announced that its board has approved a share repurchase program on Wednesday, August 26th that authorizes the company to buy back $1 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Unum Group news, EVP Lisa G. Iglesias sold 4,000 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $94.44, for a total value of $377,760.00. Following the completion of the sale, the executive vice president directly owned 25,453 shares of the company’s stock, valued at approximately $2,403,781.32. This represents a 13.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Walter Lynn Rice, Jr. sold 2,188 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $94.31, for a total transaction of $206,350.28. Following the sale, the chief accounting officer owned 8,154 shares of the company’s stock, valued at $769,003.74. The trade was a 21.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 10,488 shares of company stock worth $988,396 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Unum Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC acquired a new stake in Unum Group in the third quarter valued at approximately $29,000. CX Institutional raised its stake in shares of Unum Group by 57.8% in the 3rd quarter. CX Institutional now owns 352 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 129 shares in the last quarter. City State Bank acquired a new stake in Unum Group in the 3rd quarter worth approximately $32,000. Ancora Advisors LLC acquired a new stake in Unum Group in the 2nd quarter worth approximately $39,000. Finally, Trust Co. of Vermont bought a new stake in Unum Group during the second quarter worth approximately $47,000. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Trending Headlines about Unum Group

Here are the key news stories impacting Unum Group this week:

• Positive Sentiment: Unum completed a $3.8 billion long-term-care reinsurance agreement with Fortitude Re, a transaction that may reduce exposure to long-term-care risks. Fortitude Re deal announcement
• Positive Sentiment: Adjusted Q3 earnings of $2.20 per share topped analyst estimates, with premium growth and Colonial Life strength helping offset elevated disability claims. Zacks Q3 earnings analysis
• Neutral Sentiment: Barclays lowered its price target from $109 to $101 but maintained an Overweight rating, signaling continued optimism despite a more cautious valuation. Barclays rating information
• Negative Sentiment: Unum reported a $419.7 million GAAP net loss for Q3, versus net income a year earlier. The loss included $853 million in investment losses, primarily impairment charges; reports also flagged revenue below estimates. This overshadows the adjusted EPS beat and helps explain the negative market reaction. Unum Q3 results
• Negative Sentiment: Reports of an SEC comment-letter process and a reserve-methodology change have prompted a shareholder investigation, adding uncertainty about the company’s reporting and reserve practices. Shareholder investigation notice

About Unum Group

Unum Group is an insurance company that provides employee benefits and related protection products through employers, as well as selected individual policies. Its offerings are designed to help people manage the financial impact of illness, injury, death and other unexpected events.

The company’s products include short-term and long-term disability insurance, group and individual life insurance, accidental death and dismemberment coverage, and supplemental health benefits such as accident, critical illness and hospital indemnity insurance.