Unum Group (NYSE:NYSE:) Receives Positive Rating and Price Target Increase from Piper Sandler
Piper Sandler has reiterated its Overweight rating on Unum Group and raised the price target to $66.00. The firm believes that Unum is well-positioned to benefit from favorable industry trends, especially with its strong underwriting position and improved earnings.
Unum's long-term care block has also shown significant improvements, addressing previous concerns during actuarial review seasons. The company's increased earnings, effective capital deployment, and attractive valuation make it a promising investment opportunity.
Furthermore, Unum Group's recent sale of its Medical Stop Loss Business to Amynta Group indicates its commitment to strategic transactions. With record second-quarter earnings and a positive outlook for future growth, Unum Group is poised for success in the insurance sector.
InvestingPro Insights: Unum Group's undervalued status, strong dividend history, and solid financial health make it a compelling choice for investors. With a dividend yield of 2.89% and a year-to-date price total return of 31.48%, Unum Group stands out in the insurance industry.
In conclusion, Unum Group's positive rating and price target increase reflect its strong market position and potential for future growth. Investors looking for a reliable investment with solid returns should consider Unum Group as a valuable addition to their portfolio.
