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Unum Group (NYSE:UNM) Receives a Downgrade

Bank of America (Merrill Lynch) has downgraded the rating for shares of Unum Group (NYSE:UNM) to a solid “Neutral” in recent note issued to clients and investors on Thursday morning. UNM’s previous rating by the firm was a “Buy”.

From a total of 17 analysts covering Unum Group (NYSE:UNM) stock, 9 rate it a ”Buy”, 1 a “Sell”, and 9 a ”Hold”. This means that 47% of the ratings are positive. The highest target price is $46 while the lowest target price is $32. The mean of all analyst targets is $39 with a 9.71% above today’s ($36.46) stock price. Unum Group was the topic of 2 analyst reports since July 30, 2015 according to the firm StockzIntelligence Inc. Deutsche Bank maintained shares on July 31 with “Hold” rating.

Approximately 626,770 shares of stock traded hands. Unum Group (NYSE:UNM) has risen 7.61% since April 30, 2015 and is uptrending. It has outperformed by 7.90% the S&P500.

Unum Group is a provider of disability insurance products in the United States and the United Kingdom. The company has a market cap of $9.01 billion. The Company’s business divisions: Unum US, Unum UK, Colonial Life, Closed Block and Corporate. It has 25.67 P/E ratio. 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.

According to Zacks Investment Research, “UnumProvident is the industry leader in disability income protection and one of the top providers of supplemental benefits in the nation. The company’s subsidiaries offer comprehensive insurance solutions to help protect against the financial effects of accident, illness or death. Below are the countries in which we operate, and the companies that offer products in each country.” Get a free copy of the Zacks research report on Unum Group (UNM).