Wells Fargo Initiates Coverage on Unum Group to Market Perform

Wells Fargo Initiates Coverage on Unum Group(NYSE:UNM). The shares have been rated Market Perform. The rating by Wells Fargo was issued on Sep 23, 2016.

In a different note, On Jul 28, 2016, Morgan Stanley said it Maintains its rating on Unum Group. In the research note, the firm Raises the price-target to $35.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On Jul 15, 2016, Goldman Sachs said it Downgrades its rating on Unum Group. In the research note, the firm Lowers the price-target to $36.00 per share. The shares have been rated ‘Sell’ by the firm. On Jul 7, 2016, Citigroup said it Maintains its rating on Unum Group. In the research note, the firm Lowers the price-target to $35.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 7, 2016, Deutsche Bank said it Maintains its rating on Unum Group. In the research note, the firm Lowers the price-target to $38.00 per share. The shares have been rated ‘Hold’ by the firm. On Jun 29, 2016, Bank of America said it Downgrades its rating on Unum Group. The shares have been rated ‘Underperform’ by the firm.

Unum Group (UNM) made into the market gainers list on Tuesdays trading session with the shares advancing 1.19% or 0.41 points. Due to strong positive momentum, the stock ended at $34.85, which is also near the day’s high of $34.88. The stock began the session at $34.19 and the volume stood at 18,17,533 shares. The 52-week high of the shares is $37.26 and the 52 week low is $23.99. The company has a current market capitalization of $8,177 M and it has 23,46,42,860 shares in outstanding.

Unum Group(UNM) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $2.76B. Analysts had an estimated revenue of $2.75B. Earnings per share were $0.99. Analysts had estimated an EPS of $0.94.

Several Insider Transactions has been reported to the SEC. On Aug 3, 2016, Thomas R Watjen (director) sold 40,000 shares at $33.24 per share price.Also, On Jun 2, 2016, Timothy Gerald Arnold (EVP, President & CEO, Colonial) sold 1,600 shares at $36.99 per share price.On May 10, 2016, A S Macmillan (director) sold 327 shares at $33.49 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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