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Why You Should Buy Now and Hold This #1 (Strong Buy) Finance Stock

Zacks Equity Research
·2-min read

Building a successful investment portfolio takes skill and hard work, no matter if you're a growth, value, income, or momentum-focused investor.

Should You Buy #1 (Strong Buy)-Ranked Unum (UNM) for Your Portfolio?

Unum was upgraded to the Zacks Rank #1 list on August 12, 2022. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.

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:

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10 analysts revised their earnings estimate upwards in the last 60 days for fiscal 2022. The Zacks Consensus Estimate has increased $0.87 to $6.03 per share. UNM boasts an average earnings surprise of 30.1%.

Earnings are expected to grow 38.6% for the current fiscal year, while revenue is projected to increase 1.1%.

UNM has been moving higher over the past four weeks as well, up 2.7% compared to the S&P 500's loss of 3.8%.

Bottom Line

With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Unum could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.


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Zacks Investment Research