Unum Group (UNM) is Downgraded by FBR Capital to Underperform, Price Target at $31

Unum Group (UNM) was Downgraded by FBR Capital to ” Underperform” and the brokerage firm has set the Price Target at $31. Earlier the firm had a rating of “Mkt Perform ” on the company shares. FBR Capital advised their investors in a research report released on Jul 11, 2016.

Many Wall Street Analysts have commented on Unum Group. FBR Capital Downgraded Unum Group on Jul 11, 2016 to ” Underperform”, Price Target of the shares are set at $31.Unum Group was Downgraded by BofA/Merrill to ” Underperform” on Jun 29, 2016. Company shares were Reiterated by RBC Capital Mkts on Apr 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 39 from a previous price target of $38 .

On the company’s financial health, Unum Group reported $0.95 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.91. The company had revenue of $2725.40 million for the quarter, compared to analysts expectations of $2724.47 million. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS.

Unum Group opened for trading at $31.03 and hit $31.35 on the upside on Friday, eventually ending the session at $31.2, with a gain of 2.36% or 0.72 points. The heightened volatility saw the trading volume jump to 20,75,243 shares. Company has a market cap of $7,418 M.

In a different news, on Jun 2, 2016, Timothy Gerald Arnold (EVP, President & CEO, Colonial) sold 1,600 shares at $36.99 per share price. According to the SEC, on May 10, 2016, A S Macmillan (director) sold 327 shares at $33.49 per share price. On May 4, 2016, Thomas R Watjen (director) sold 40,000 shares at $34.16 per share price, according to the Form-4 filing with the securities and exchange commission.

Unum Group is a provider of disability insurance products in the United States and the United Kingdom. The Company’s business segments: Unum US Unum UK Colonial Life Closed Block and Corporate. Unum US includes group long-term and short-term disability insurance group life and accidental death and dismemberment products and supplemental and voluntary lines of business. Unum UK includes insurance for group long-term disability group life and lines of business which include individual disability and critical illness products. Colonial Life includes insurance for accident sickness and disability products life products and cancer and critical illness products to employees. The Company’s Closed Block segment consists of individual disability group and individual long-term care and other insurance products no longer actively marketed. Its Corporate segment includes investment income on corporate assets not specifically allocated to a line of business.

Unum Group

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