Unum Group (NYSE: UNM) shares fell in early trading today on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, U.S. stocks edged lower Monday, with major indexes retreating from record levels.
The Dow Jones Industrial Average DJIA, -0.31% fell 48 points, or 0.2%, to 19,916, while the S&P 500 index SPX, -0.29% lost 5 points to 2,272, a drop of 0.2%. The Nasdaq Composite Index COMP, -0.03% rose 4 points to 5,529, a gain of about 0.1%.
Analysts at Barclays PLC reiterated a Buy rating on shares of Unum Group (NYSE: UNM) in a reserach note to investors, making it one of the more actively watched stocks on Wall Street. The company currently has a rating of Buy on the shares. The one-year price target of $43.00 is less than the opening price of $44.25, resulting a number of other analysts to issue statements on the company in recent days. Looking back over the last 52 weeks, Unum Group stock has a high of $45.15. Share prices sometimes get a jump to the upside when analysts reiterate coverage.
Shares of Unum Group (NYSE: UNM) opened at $44.25 yesterday trading between $44.25 and $44.66, and last traded at $44.58, which represents a decrease of $0.30 compared to the previous closing price.
Unum Group (NYSE: UNM) currently has a market cap of 10.35B.
Unum Group (NYSE: UNM) Average Daily Trading Volume
53,754 shares crossed the trading desk yesterday, 3 percent lower than the norm, out of a total float 231,339,000. lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain teams of analysts that investigate thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
Unum Group (NYSE: UNM) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
Trades for Unum Group (NYSE: UNM) have ranged from $23.99 – 45.15, and the stock now has a 50-day MA of $43.57 and 200-day MA of $36.87. Today’s last price is 1.26%% below the 52 week high of $45.15.
Earnings growth is a crucial factor to look at when buying stocks and investors identify companies that have raised their earnings at least 25% or more over the past 3 years.
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