UPDATE: Raymond James Starts Unum Group (UNM) at Market Perform

Raymond James analyst Wilma Burdis initiates coverage on Unum Group (NYSE: UNM) with a Market Perform rating.

The analyst comments "We are initiating on Unum Group (UNM) with a Market Perform rating. Our valuation reflects its solid core businesses, offset by a discount for its long-term care (LTC) block. EPS is poised to grow 6-10% per year post 2024, assuming interest rates stay elevated. UNM targets 4-6% long-term premium growth after 2024; normalized capital management could boost EPS growth by an additional 2-4 percentage points. UNM guides to 2022 EPS growth of 45-45%, and 2024 EPS to rise 45-55% vs. 2021, driven by tailwinds from premium growth in Colonial Life, normalization post-pandemic, and capital actions (though its outlook does not reflect long-duration targeted improvement accounting changes, which will be implemented in January 2023)."

For an analyst ratings summary and ratings history on Unum Group click here. For more ratings news on Unum Group click here.

Shares of Unum Group closed at $40.38 yesterday.

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