Bank of America Begins Coverage on Unum Group (UNM)

Bank of America assumed coverage on shares of Unum Group (NYSE:UNM) in a research report issued to clients and investors on Monday. The firm set an “underperform” rating on the financial services provider’s stock.

UNM has been the subject of a number of other reports. Zacks Investment Research upgraded Unum Group from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a report on Friday, January 12th. SunTrust Banks reiterated a “buy” rating and set a $69.00 price target on shares of Unum Group in a report on Thursday, January 11th. Wells Fargo set a $56.00 price target on Unum Group and gave the stock a “hold” rating in a report on Wednesday, December 13th. Langen Mcalenn reiterated a “neutral” rating on shares of Unum Group in a report on Tuesday, January 16th. Finally, Deutsche Bank started coverage on Unum Group in a report on Tuesday, January 2nd. They set a “hold” rating and a $58.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $57.09.

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Shares of Unum Group (NYSE:UNM) opened at $46.98 on Monday. The stock has a market capitalization of $10,394.85, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 1.82 and a beta of 1.49. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.29. Unum Group has a 12-month low of $43.55 and a 12-month high of $58.73.

Unum Group (NYSE:UNM) last announced its earnings results on Wednesday, January 31st. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Unum Group had a return on equity of 10.43% and a net margin of 8.81%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 earnings per share. equities analysts forecast that Unum Group will post 5.17 EPS for the current fiscal year.

In related news, EVP Christopher J. Jerome sold 7,806 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $50.90, for a total value of $397,325.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Daniel Jason Waxenberg sold 1,435 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $52.36, for a total value of $75,136.60. The disclosure for this sale can be found here. Insiders sold 18,829 shares of company stock valued at $999,888 over the last 90 days. 0.53% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. raised its stake in Unum Group by 14.7% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 8,424 shares of the financial services provider’s stock worth $462,000 after acquiring an additional 1,082 shares in the last quarter. Eagle Asset Management Inc. raised its stake in Unum Group by 1.9% during the fourth quarter. Eagle Asset Management Inc. now owns 58,376 shares of the financial services provider’s stock worth $3,204,000 after acquiring an additional 1,101 shares in the last quarter. ETRADE Capital Management LLC raised its stake in Unum Group by 17.6% during the third quarter. ETRADE Capital Management LLC now owns 7,523 shares of the financial services provider’s stock worth $385,000 after acquiring an additional 1,126 shares in the last quarter. AGF Investments America Inc. raised its stake in Unum Group by 2.8% during the fourth quarter. AGF Investments America Inc. now owns 43,882 shares of the financial services provider’s stock worth $2,409,000 after acquiring an additional 1,186 shares in the last quarter. Finally, Cadence Capital Management LLC raised its stake in Unum Group by 15.8% during the third quarter. Cadence Capital Management LLC now owns 9,314 shares of the financial services provider’s stock worth $476,000 after acquiring an additional 1,272 shares in the last quarter. Institutional investors and hedge funds own 92.98% of the company’s stock.

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About Unum Group

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.

Analyst Recommendations for Unum Group (NYSE:UNM)

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