11 Best Insurance Stocks to Buy Right Now

7. Unum Group (NYSE:UNM)

Unum Group (NYSE:UNM) is one of the 11 best insurance stocks to buy right now.

As of the close of play on March 17, Unum Group (NYSE:UNM) carried a moderately bullish consensus sentiment. 6 of the 10 analysts who provided coverage assigned Buy ratings to the stock, while 4 gave Hold calls. With no Sell rating, it has an estimated 1-year median target price of $94.86, implying upside potential of more than 26%.

On March 3, Bob Huang from Morgan Stanley reduced the price target on Unum Group (NYSE:UNM) from $85 to $80. The analyst reiterated an Equal Weight rating on the stock, which now yields an adjusted upside potential of almost 10%.

Huang claimed that the firm is updating its price estimates for covered Insurance-Life/Annuity North America stocks. Although private credit risk for life insurers is not a concern for Morgan Stanley, the sector is probably going to experience pressure on valuations.

Back on February 25, Elyse Greenspan from Wells Fargo reduced the price target on Unum Group (NYSE:UNM) from $104 to $102, yielding a revised upside potential of 40%. The firm maintained its Overweight rating on the stock.

Unum Group (NYSE:UNM) delivers financial protection benefit solutions with a focus on accident, critical illness, disability, life, and vision insurance. It offers both long-term and short-term plans for individuals and groups, backed by supplemental and voluntary offerings. Other services include reinsurance pools, workplace benefits, management operations, and leave management.