Zacks Investment Research Lowers Unum Group (NYSE:UNM) to Hold
Unum Group (NYSE:UNM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “Shares of Unum Group underperformed the Zacks categorized Accident & Health industry year to date. Though the company witnessed its 2017 estimates moving north in the last 60 days, the same remained unaltered for 2018. Nonetheless Unum’s premiums continue to increase, fueled by solid persistency levels in core business lines and sturdy volume of sales, along with solid benefits experience. Acquisitions have provided additional support. Starmount Life Insurance Company buyout gave access to growth opportunities in the dental market, which is in sync with its strategy to focus more on the employee benefits business. Sustained favorable performance drives solid capital generation and strong financial flexibility aiding active capital deployment. Unum expects 2017 operating earnings to grow 3–6% over the 2016 level. However, exposure to low interest rate environment remains the key headwind affecting Unum U.K. results.”
Several other brokerages also recently commented on UNM. Royal Bank Of Canada reissued a “hold” rating and issued a $50.00 target price on shares of Unum Group in a report on Friday, April 28th. Deutsche Bank AG boosted their target price on Unum Group from $46.00 to $48.00 and gave the stock a “hold” rating in a report on Wednesday, April 19th. BidaskClub raised Unum Group from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, Citigroup Inc. downgraded Unum Group from a “buy” rating to a “neutral” rating and set a $53.00 target price on the stock. in a report on Monday, March 13th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. Unum Group has a consensus rating of “Hold” and a consensus target price of $43.64.
Shares of Unum Group (NYSE:UNM) traded up 0.499% during mid-day trading on Thursday, hitting $47.345. The company had a trading volume of 920,349 shares. The firm has a market cap of $10.80 billion, a PE ratio of 11.624 and a beta of 1.55. Unum Group has a 12-month low of $29.79 and a 12-month high of $50.27. The firm’s 50 day moving average is $45.81 and its 200-day moving average is $46.17.
Unum Group (NYSE:UNM) last announced its earnings results on Wednesday, April 26th. The financial services provider reported $1.02 EPS for the quarter, topping the consensus estimate of $1.00 by $0.02. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.84 billion. Unum Group had a return on equity of 10.23% and a net margin of 8.54%. Unum Group’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.94 EPS. On average, equities analysts expect that Unum Group will post $4.10 EPS for the current year.
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In other Unum Group news, EVP Michael Q. Simonds sold 5,000 shares of the company’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $46.61, for a total transaction of $233,050.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Breege A. Farrell sold 15,000 shares of the company’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $45.47, for a total value of $682,050.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,260 shares of company stock worth $927,174. Company insiders own 0.53% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of UNM. Creative Planning increased its position in Unum Group by 39.4% in the first quarter. Creative Planning now owns 15,214 shares of the financial services provider’s stock worth $713,000 after buying an additional 4,297 shares during the period. Fulton Bank N.A. bought a new position in Unum Group during the first quarter worth $275,000. Chevy Chase Trust Holdings Inc. increased its position in Unum Group by 2.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 199,052 shares of the financial services provider’s stock worth $9,334,000 after buying an additional 4,089 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Unum Group during the fourth quarter worth $330,000. Finally, Kentucky Retirement Systems bought a new position in Unum Group during the fourth quarter worth $740,000. 93.20% of the stock is currently owned by hedge funds and other institutional investors.
Unum Group Company Profile
Unum Group is a provider of financial protection benefits in the United States and the United Kingdom. The Company’s products include disability, life, accident, critical illness, dental and vision, and other related services. Its segments include Unum US, Unum UK, Colonial Life, Closed Block and Corporate.
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