SunTrust Banks Brokers Lower Earnings Estimates for Unum Group (UNM)
Unum Group (NYSE:UNM) – SunTrust Banks decreased their FY2017 earnings per share estimates for shares of Unum Group in a report released on Thursday. SunTrust Banks analyst M. Hughes now expects that the financial services provider will post earnings per share of $4.23 for the year, down from their previous estimate of $4.24. SunTrust Banks has a “Buy” rating and a $69.00 price target on the stock. SunTrust Banks also issued estimates for Unum Group’s FY2018 earnings at $5.15 EPS.
UNM has been the topic of a number of other reports. Wells Fargo & Co set a $48.00 price target on shares of Unum Group and gave the stock a “hold” rating in a report on Wednesday, October 25th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $52.00 target price on shares of Unum Group in a research note on Friday, October 27th. Zacks Investment Research downgraded shares of Unum Group from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. ValuEngine raised shares of Unum Group from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Finally, Deutsche Bank assumed coverage on shares of Unum Group in a research note on Tuesday, January 2nd. They issued a “hold” rating and a $58.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Unum Group presently has an average rating of “Hold” and a consensus target price of $56.00.
Unum Group (NYSE:UNM) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.05. Unum Group had a net margin of 8.67% and a return on equity of 10.37%. The firm had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the firm posted $1.01 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently modified their holdings of UNM. Franklin Resources Inc. grew its position in Unum Group by 1.1% during the second quarter. Franklin Resources Inc. now owns 56,240 shares of the financial services provider’s stock valued at $2,623,000 after acquiring an additional 623 shares during the last quarter. Stephens Inc. AR grew its position in Unum Group by 5.8% during the second quarter. Stephens Inc. AR now owns 20,615 shares of the financial services provider’s stock valued at $961,000 after acquiring an additional 1,122 shares during the last quarter. Amalgamated Bank grew its position in Unum Group by 54.5% during the second quarter. Amalgamated Bank now owns 25,661 shares of the financial services provider’s stock valued at $1,197,000 after acquiring an additional 9,047 shares during the last quarter. BlueMountain Capital Management LLC grew its position in Unum Group by 130.1% during the second quarter. BlueMountain Capital Management LLC now owns 9,725 shares of the financial services provider’s stock valued at $453,000 after acquiring an additional 5,498 shares during the last quarter. Finally, BT Investment Management Ltd bought a new position in Unum Group during the second quarter valued at approximately $6,294,000. Institutional investors and hedge funds own 91.52% of the company’s stock.
In other Unum Group news, CEO Timothy Gerald Arnold sold 1,000 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $55.07, for a total transaction of $55,070.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director E Michael Caulfield sold 3,814 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $52.42, for a total transaction of $199,929.88. The disclosure for this sale can be found here. Insiders have sold 21,122 shares of company stock worth $1,136,688 over the last quarter. Company insiders own 0.53% of the company’s stock.
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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