Why Unum Stock Tumbled by 12% Today
Insurance conglomerate Unum Group (NYSE: UNM) wasn't the safest bet on the stock market Wednesday. The company's share price cratered by more than 12% on the back of a poorly received earnings report. That decline was especially pronounced on a day when the S 500 index only dipped by 0.1%.
In its second quarter, Unum took in revenue of $3.36 billion, which bettered the $3.23 billion of the same period of 2024. This was on the back of a nearly 5% year-over-year rise in premium income to $2.75 billion, and a 3% increase in net investment income to almost $561 million. The top-line figure was only slightly higher than the consensus analyst estimate of $3.33 billion.
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Source Fool.com
