Cornerstone Investment Partners Lowers stake in Unum Group (UNM)

Unum Group (UNM) : Cornerstone Investment Partners reduced its stake in Unum Group by 23.66% during the most recent quarter end. The investment management company now holds a total of 35,944 shares of Unum Group which is valued at $1,295,781 after selling 11,143 shares in Unum Group , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Unum Group makes up approximately 0.06% of Cornerstone Investment Partners’s portfolio.

Other Hedge Funds, Including , Nisa Investment Advisors reduced its stake in UNM by selling 3,218 shares or 4.16% in the most recent quarter. The Hedge Fund company now holds 74,155 shares of UNM which is valued at $2,717,039. Unum Group makes up approx 0.04% of Nisa Investment Advisors’s portfolio.Capstone Asset Management Co reduced its stake in UNM by selling 1,711 shares or 4.23% in the most recent quarter. The Hedge Fund company now holds 38,765 shares of UNM which is valued at $1,420,350. Unum Group makes up approx 0.04% of Capstone Asset Management Co’s portfolio.Advisory Services Network boosted its stake in UNM in the latest quarter, The investment management firm added 6,877 additional shares and now holds a total of 26,100 shares of Unum Group which is valued at $948,213. Unum Group makes up approx 0.18% of Advisory Services Network’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in UNM by selling 23,835 shares or 43.66% in the most recent quarter. The Hedge Fund company now holds 30,755 shares of UNM which is valued at $1,119,790.

Unum Group opened for trading at $36.49 and hit $36.89 on the upside on Tuesday, eventually ending the session at $36.64, with a gain of 0.25% or 0.09 points. The heightened volatility saw the trading volume jump to 22,67,793 shares. Company has a market cap of $8,597 M.

On the company’s financial health, Unum Group reported $1.00 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.94. The company had revenue of $2761.30 million for the quarter, compared to analysts expectations of $2746.99 million. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 EPS.

Many Wall Street Analysts have commented on Unum Group. Unum Group was Initiated by Credit Suisse to “Neutral” on Oct 7, 2016. Unum Group was Initiated by Wells Fargo to “Market Perform” on Sep 23, 2016.

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.

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