Shares of Chattanooga-based disability insurer Unum Group closed at a two-and-a-half year low on Wednesday even though the company beat fourth quarter analyst expectations for earnings.
Unum shares closed at $26.86, down 58 cents, or 2.11 percent on the New York Stock Exchange on Wednesday.
That's the lowest price since April 22, 2013, when the insurer's stock price closed at $26.45.
The company has been on a share buy-back program.
Rick McKenney, the company's chief executive, told analysts in a conference call on Wednesday that the business will be buying "a lot more shares concerning where the price is now."