Barclays has increased its price target for Unum Group (NYSE:UNM) to $96 from $94, while keeping an Overweight rating on the stock. The adjustment was made on January 8 as part of the firm's broader assessment of life insurers heading into 2026.
The firm expressed cautious optimism about the industry, citing strong capital positions, solid cash flow generation, and ongoing consolidation as factors that could help counter pressures from spread compression and increased technology investments.
Separately, Unum Group announced on December 4 that its board has approved a new share repurchase authorization of up to $1 billion. This new program will begin on January 1, 2026, following the expiration of the current buyback plan on December 31, 2025.
Unum Group is an international provider of workplace benefits and related services. The company offers disability, life, accident, critical illness, dental, and vision coverage through its Unum and Colonial Life brands, along with leave management support and behavioral health services.
Unum Group was recently included in a list of 14 best mid-cap dividend aristocrat stocks to buy now.