Unum Group [UNM] Records 50-Day SMA of $47.89

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Unum Group shares valued at $800,064 were sold by IGLESIAS LISA G on Mar 05 ’24. At $50.00 per share, IGLESIAS LISA G sold 16,000 shares. The insider’s holdings dropped to 40,840 shares worth approximately $2.09 million following the completion of this transaction.

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Also, McKenney Richard P sold 50,000 shares, netting a total of over 2,457,575 in proceeds. Following the sale of shares at $49.15 each, the insider now holds 1,076,753 shares.

Before that, Ahmed Elizabeth Claire had sold 5,000 shares from its account. In a trade valued at $250,000, the EVP, People & Communications traded Unum Group shares for $50.00 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $2.84 million.

As published in a research note from JP Morgan on January 03, 2024, Unum Group [UNM] has been rated up from a Neutral to an Overweight and the price target has been revised to $55. Analysts at Wells Fargo started covering the stock with ‘”an Overweight”‘ outlook in a report released in late April. As of March 20, 2023, Jefferies has increased its “Hold” rating to a “Buy” for UNM. Earlier on March 15, 2023, Citigroup upgraded its rating. Their new recommendation was “a Buy” for UNM stock which previously was a “a Neutral”.

Analyzing UNM Stock Performance

During the last five days, there has been a surge of approximately 1.34%. Over the course of the year, Unum Group shares have jumped approximately 13.40%. Shares of the company reached a 52-week high of $51.78 on 03/08/24 and a 52-week low of $44.83 on 01/17/24. A 50-day SMA is recorded $47.89, while a 200-day SMA reached $47.19. Nevertheless, trading volume fell to 1.14 million shares from 1.04 million shares the previous day.

Support And Resistance Levels for Unum Group (UNM)

According to the 24-hour chart, there is a support level at 50.90, which, if violated, would cause prices to drop to 50.51. In the upper region, resistance lies at 51.57. The next price resistance is at 51.85. RSI (Relative Strength Index) is 69.81 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.76, which suggests the price will decrease in the coming days. Percent R is at 18.08%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Unum Group subject to short interest?

Stocks of Unum Group saw a sharp steep in short interest on Feb 29, 2024 dropping by -0.61 million shares to 2.36 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 2.97 million shares. A decline of -25.85% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.4 of the overall float, the days-to-cover ratio (short ratio) decline to 1.4.

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