Here's Why Unum (UNM) is a Strong Momentum Stock
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
Unum (UNM)
Headquartered in Chattanooga, TN, Unum Group (UNM) was created following the Jun 1999 merger of Provident Companies, Inc. and Unum Corporation. Along with disability insurance, the company provides long-term care insurance, life insurance, employer- and employee-paid group benefits and related services. Since Jan 2003, UnumProvident has been classifying its operations into five segments: Income Protection, Life and Accident, Colonial, Corporate, and Other. Effective Jul 1, 2005, the company modified its reporting segments to separate its United States business from its United Kingdom subsidiary, Unum Limited. The company's business operations are now segmented as follows:
UNM boasts a Momentum Style Score of A and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Unum has seen some interesting price action recently; the stock is up 1.1% over the past one week and up 1.6% over the past four weeks. And in the last one-year period, UNM has gained 7.1%. As for the stock's trading volume, 940,800.81 shares on average were traded over the last 20 days.
A company's earnings performance is important for momentum investors as well. For fiscal 2023, three analysts revised their earnings estimate higher in the last 60 days for UNM, while the Zacks Consensus Estimate has increased $0.02 to $7.75 per share. UNM also boasts an average earnings surprise of 5.6%.
UNM should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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Unum Group (UNM) : Free Stock Analysis Report
