# Unum Group (UNM)

> Source: Nexqual · https://nexqual.com/UNM · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Unum Group (UNM), nexqual.com/UNM" · informational, not investment advice.

**Price:** USD 93.75 (+0.04% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 93.75 · day 92.14–93.92 · 52w 69.02–96.77 · market cap null · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $13.3B, net income $703M (5.3% margin), free cash flow $693M (SEC filings).
- 1 of 80 tracked superinvestors hold UNM (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 4 Form 4 filings, $2.0M; 4 not under a Rule 10b5-1 plan ($2.0M); 1 by opportunistic insiders (1 outside 10b5-1 plans), 1 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.15 on a 1–5 scale) (13 analysts), mean target USD 102.15 (range 92–122).
- Total return with dividends: 1Y +25.7% vs S&P 500 +14.9%; 5Y +291.3% vs S&P 500 +80.3%.
- Next earnings: 2026-11-03, EPS estimate USD 2.17, revenue estimate $2.96B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $12.0B | $12.0B | $12.4B | $12.9B | $13.1B | $13.3B |
| Net income | $981M | $1.41B | $1.28B | $1.78B | $739M | $703M |
| EPS (diluted) | $4.79 | $6.96 | $6.50 | $9.46 | $4.27 | — |
| Free cash flow | $1.28B | $1.32B | $1.07B | $1.39B | $555M | $693M |
| Net margin | 8.2% | 11.7% | 10.4% | 13.8% | 5.6% | 5.3% |
| Revenue growth | -8.8% | -0.2% | +3.4% | +4.0% | +1.5% | — |
| Cash + short-term investments | $75.0M | $119M | $146M | $163M | $158M | — |
| Total debt | $3.44B | $3.43B | $3.43B | $3.74B | $3.77B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)

P/E at fiscal year-ends: Dec 2025 18.1x, Dec 2024 7.7x, Dec 2023 7.0x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold UNM. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Thomas Russo | Gardner Russo & Quinn | <0.01% | $312K | Reduced -8.3% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 4 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-10 | Rice Walter Lynn Jr | SVP, Chief Accounting Officer | 2,188 | $206K | 21.7% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-09-10 | Keaney Timothy F | Director | 4,300 | $404K | 10.5% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-09-09 | Iglesias Lisa G | EVP, General Counsel | 4,000 | $378K | 13.6% | No | Routine (sold in Mar each year 2023–2025; this trade is outside those months) |
| 2026-04-30 | Ahmed Elizabeth Claire | EVP, People & Communications | 12,000 | $962K | 22% | No | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.15 on a 1–5 scale), 13 analysts; mean target USD 102.15 (low 92, high 122).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | Wells Fargo | Target raised | Overweight | $100 → $102 |
| 2026-10-07 | Barclays | Target lowered | Overweight | $110 → $109 |
| 2026-08-24 | Morgan Stanley | Target raised | Equal-Weight | $87 → $92 |
| 2026-08-03 | JP Morgan | Target lowered | Neutral | $101 → $98 |
| 2026-07-30 | Keefe, Bruyette & Woods | Target lowered | Outperform | $110 → $108 |
| 2026-07-21 | JP Morgan | Target raised | Neutral | $90 → $101 |
| 2026-07-13 | Evercore ISI Group | Target raised | Outperform | $106 → $111 |
| 2026-07-10 | Jefferies | Target raised | Buy | $117 → $123 |
| 2026-07-09 | Wells Fargo | Target raised | Overweight | $100 → $101 |
| 2026-07-07 | Evercore ISI Group | Target raised | Outperform | $103 → $106 |
| 2026-07-06 | Wolfe Research | Target lowered | Outperform | $102 → $100 |
| 2026-07-06 | Barclays | Target raised | Overweight | $105 → $110 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +25.7% | +291.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +25.8% | +31.3% |
| Volatility (annualized) | 23.4% | 28.2% |
| Max drawdown | -11.6% (Jan 2026→Mar 2026) | -19.8% (Oct 2022→Mar 2023) |

## Peers (Insurance - Life)
GL (Globe Life Inc.) USD 168.41 -0.71% · JXN (Jackson Financial Inc.) USD 133.32 +2.42% · PRI (Primerica, Inc.) USD 285.72 +0.38% · LNC (Lincoln National Corporation) USD 41.11 +1.78% · PUK (Prudential Public Limited Compa) USD 24.01 -1.60% · PRU (Prudential Financial, Inc.) USD 118.17 +2.92%

## More
Full page: https://nexqual.com/UNM · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Company outlook (8-K filed 2026-07-28)

- "Full-year 2026 outlook for after-tax adjusted operating income per share of $8.60 to $8.90 which represents growth of approximately 8 percent to 12 percent when comparing to our redefined full-year 2025 result of $7.93 per share."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $2.17 | $2.23 | -3.1% | $2.96B | 12 |
| Next quarter (ends 2026-12-31) | $2.19 | $2.26 | -3.2% | $2.97B | 10 |
| Current fiscal year (ends 2026-12-31) | $8.67 | $8.79 | -1.4% | $12.11B | 13 |
| Next fiscal year (ends 2027-12-31) | $9.43 | $9.66 | -2.3% | $12.68B | 13 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-03): ±7.8%; last 8 reports averaged ±4.7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 34.7% | ±7.8% |
| 2026-12-18 | 56 | 32.6% | ±10.2% |
| 2027-03-19 | 147 | 32.4% | ±16.2% |
| 2027-06-17 | 237 | 30.6% | ±19.3% |