Unum Group (UNM) Given a $56.00 Price Target at Wells Fargo & Company
Unum Group (NYSE:UNM) received a $56.00 target price from investment analysts at Wells Fargo & Company in a report issued on Wednesday. The brokerage presently has a “hold” rating on the financial services provider’s stock. Wells Fargo & Company’s price target would suggest a potential upside of 1.93% from the stock’s previous close.
The analysts wrote, “We are raising our 2018E EPS to $4.43 from $4.40 to reflect stronger earnings from Unum US in the near term. We are raising our price target to $56 from $53 per share, which is based on applying a 1.3x multiple on our forward 12-month BVPS estimate, ex. accumulated other comprehensive income. Potential impacts from tax reform come in three ways. From a GAAP perspective, tax reform would be highly beneficial to Unum with effectively tax rate going to under 20% (versus the company’s current rate of 31-32%) and a write-down of its deferred tax liability. On a cash basis, tax reform would still be positive but less favorable compared to GAAP due to timing differences in reserves and higher deferred acquisition costs (DAC) taxes being amortized over a longer period. From a capital perspective, UNM would have to write down its deferred tax asset (DTA) on a statutory (STAT) basis.””
UNM has been the topic of a number of other research reports. SunTrust Banks reaffirmed a “buy” rating and issued a $58.00 target price on shares of Unum Group in a research note on Wednesday, September 27th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $52.00 target price on shares of Unum Group in a research note on Friday, October 27th. Zacks Investment Research lowered Unum Group from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Finally, Goldman Sachs Group assumed coverage on Unum Group in a research note on Wednesday, October 18th. They set a “sell” rating and a $48.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Unum Group currently has an average rating of “Hold” and a consensus target price of $54.00.
Unum Group (NYSE:UNM) last released its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.05. The business had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Unum Group had a return on equity of 10.37% and a net margin of 8.67%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 EPS. analysts expect that Unum Group will post 4.23 earnings per share for the current year.
In related news, EVP Christopher J. Jerome sold 7,849 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $53.24, for a total value of $417,880.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director E Michael Caulfield sold 3,814 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $52.42, for a total value of $199,929.88. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. BB&T Investment Services Inc. acquired a new stake in Unum Group in the 2nd quarter valued at $100,000. Jacobi Capital Management LLC acquired a new stake in Unum Group in the 2nd quarter valued at $159,000. Invictus RG acquired a new stake in Unum Group in the 3rd quarter valued at $176,000. Keel Point LLC acquired a new stake in Unum Group in the 3rd quarter valued at $202,000. Finally, Schulhoff & Co. Inc. acquired a new stake in Unum Group in the 3rd quarter valued at $204,000. 91.77% of the stock is currently owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY WARNING: “Unum Group (UNM) Given a $56.00 Price Target at Wells Fargo & Company” was first published by American Banking News and is the property of of American Banking News. If you are accessing this story on another website, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/12/13/unum-groups-unm-hold-rating-reiterated-at-wells-fargo-company.html.
Unum Group Company Profile
Unum Group is a provider of financial protection benefits in the United States and the United Kingdom. The Company’s products include disability, life, accident, critical illness, dental and vision, and other related services. Its segments include Unum US, Unum UK, Colonial Life, Closed Block and Corporate.
Receive News & Ratings for Unum Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Unum Group and related companies with MarketBeat.com's FREE daily email newsletter.