Long Position on UNM @ $40.00 on 9/21/2022 (Momentum)

Unum Group (UNM) provides financial protection benefit solutions primarily in the United States, the United Kingdom, and Poland.  

It operates through Unum US, Unum International, Colonial Life, and Closed Block segments. The company offers group long-term and short-term disability, group life, and accidental death and dismemberment products; supplemental and voluntary products, such as individual disability, voluntary benefits, and dental and vision products; and accident, sickness, disability, life, and cancer and critical illness products.

It also provides group pension, individual life and corporate-owned life insurance, reinsurance pools and management operations, and other products. The company sells its products primarily to employers for the benefit of employees.

Unum Group sells its products through field sales personnel, independent brokers, consultants, and independent contractor agency sales force. 

On August 2nd, UNM reported 2nd Quarter June 2022 earnings of $1.91 per share on revenue of $3.0 billion. The consensus earnings estimate was $1.23 per share on revenue of $3.0 billion. Revenue grew 1.6% on a year-over-year basis.Since then shares have formed a bullish "wedge" and are expected to move higher from this formation. 

Entry Point: $40.00

Trading Range: $22.25 to $41.13

Stop Loss: $38.00

Target Price: $44.00

Position closed on 10/19/2022 at price of $43.37 with a 8.43% gain in 28 days.

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