Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Unum Group shares valued at $510,600 were sold by Zabel Steven Andrew on Mar 13 ’24. At $51.06 per share, Zabel Steven Andrew sold 10,000 shares. The insider’s holdings dropped to 122,246 shares worth approximately $6.53 million following the completion of this transaction.
Also, IGLESIAS LISA G sold 16,000 shares, netting a total of over 800,064 in proceeds. Following the sale of shares at $50.00 each, the insider now holds 40,840 shares.
Before that, McKenney Richard P had sold 50,000 shares from its account. In a trade valued at $2,457,575, the President and CEO traded Unum Group shares for $49.15 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 shares, worth approximately $57.48 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 drop of approximately -0.60%. Over the course of the year, Unum Group shares have jumped approximately 18.05%. Shares of the company reached a 52-week high of $54.57 on 04/04/24 and a 52-week low of $44.83 on 01/17/24. A 50-day SMA is recorded $50.06, while a 200-day SMA reached $47.79. Nevertheless, trading volume fell to 0.87 million shares from 1.13 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 52.93, which, if violated, would cause prices to drop to 52.49. In the upper region, resistance lies at 54.20. The next price resistance is at 55.02. RSI (Relative Strength Index) is 63.89 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.81, which suggests the price will decrease in the coming days. Percent R is at 38.02%, indicating low price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Unum Group subject to short interest?
Stocks of Unum Group saw a sharp rise in short interest on Mar 15, 2024 jumping by 1.79 million shares to 4.48 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 2.69 million shares. A jump of 39.96% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.59 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.59.
