Bank of America Downgrades Unum Group to Underperform

Brokerage firm Bank of America Downgrades its rating on Unum Group(NYSE:UNM). The shares have been rated Underperform. Previously, the analysts had a Neutral rating on the shares. The rating by Bank of America was issued on Jun 29, 2016.

Unum Group (UNM) shares turned negative on Fridays trading session with the shares closing down -0.12 points or -0.38% at a volume of 21,11,055. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $31.865. The peak price level was also seen at $31.865 while the days lowest was $31.39. Finally the shares closed at $31.67. The 52-week high of the shares is $38.15 while the 52-week low is $23.99. According to the latest information available, the market cap of the company is $7,530 M.

Unum Group(UNM) last announced its earnings results on Apr 27, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $2.73B. Analysts had an estimated revenue of $2.73B. Earnings per share were $0.95. Analysts had estimated an EPS of $0.91.

Several Insider Transactions has been reported to the SEC. On Jun 2, 2016, Timothy Gerald Arnold (EVP, President & CEO, Colonial) sold 1,600 shares at $36.99 per share price.Also, 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.

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