In a report released today, Randy Binner from B.Riley FBR reiterated a Buy rating on Unum Group (UNM). The company’s shares opened today at $30.10, close to its 52-week low of $29.73.
Binner observed:
“We recently attended the 2019 investor day for Unum Group (UNM – and have a number of takeaways. Management did a good job of addressing LTC reserve concerns and providing further granularity around reserve assumptions. We continue to see concerns here as overdone; and valuation, at 71% of 3Q18 BV (ex. AOCI), undervalues the group and direct distribution segments of UNM, which are performing well. We reiterate our Buy rating, with UNM down –45% YTD, compared to the S&P 500 at –1%.”
According to TipRanks.com, Binner is a 5-star analyst with an average return of 11.3% and a 64.6% success rate. Binner covers the Financial sector, focusing on stocks such as American Equity Investment Life, American International Group, and Health Insurance Innovations.
Currently, the analyst consensus on Unum Group is a Moderate Buy with an average price target of $43.25.
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The company has a one-year high of $58.73 and a one-year low of $29.73. Currently, Unum Group has an average volume of 2.58M.
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Unum Group engages in the provision of financial protection benefits. It operates through the following segments: Unum U.S., Unum UK, Colonial Life, Closed Block, and Corporate.
