Unum Group (UNM) Loses 12% on Disappointing Q2

We recently published 10 Stocks Hit by Painful Plunge. Unum Group (NYSE:UNM) is one of the best-performing stocks on Wednesday.

Unum Group declined by 12.18 percent on Wednesday to finish at $71.11 apiece following a disappointing earnings performance in the second quarter of the year.

In its financial statement, Unum Group (NYSE:UNM) said net income dropped by 13.8 percent to $335.6 million from $389.5 million in the same period last year.

Total revenues, on the other hand, grew by 3.9 percent to $3.36 billion from $3.23 billion year-on-year.

“During the quarter, we made meaningful progress against our strategic priorities, despite earnings results that did not meet our expectations,” Unum Group (NYSE:UNM) President and CEO Richard McKenney said.

“Core fundamentals remain solid, and we continued to deliver strong premium growth in our capital-efficient, high-return businesses. We continue to execute on our risk management and capital deployment priorities, returning substantial capital to shareholders through dividends and share repurchases while closing our long-term care reinsurance transaction,” he added.

By August 15, shareholders of Unum Group (NYSE:UNM) as of July 25 will receive a $0.46 quarterly dividend per common share held.

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