Unum Group (NYSE:UNM) Updates FY 2024 Earnings Guidance

Unum Group (NYSE:UNM) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 8.426-8.809 for the period, compared to the consensus EPS estimate of 8.490. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on UNM. Evercore ISI boosted their price target on shares of Unum Group from $59.00 to $66.00 and gave the company an “in-line” rating in a research report on Wednesday. Bank of America boosted their price target on shares of Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. UBS Group raised shares of Unum Group to a “hold” rating in a research report on Wednesday, October 9th. Truist Financial boosted their price target on shares of Unum Group from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Piper Sandler reissued an “overweight” rating and issued a $66.00 price target (up from $64.00) on shares of Unum Group in a research report on Friday, September 27th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.64.

Unum Group Stock Performance

Shares of Unum Group stock traded down $0.18 on Thursday, reaching $64.21. 1,611,440 shares of the stock were exchanged, compared to its average volume of 1,243,653. Unum Group has a 1-year low of $41.75 and a 1-year high of $64.91. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.33. The business has a fifty day moving average price of $58.61 and a two-hundred day moving average price of $54.44. The firm has a market capitalization of $12.16 billion, a PE ratio of 9.56, a PEG ratio of 0.91 and a beta of 0.77.

Unum Group (NYSE:UNM) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.04. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the business posted $1.94 earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year. As a group, research analysts anticipate that Unum Group will post 8.49 earnings per share for the current fiscal year.

Unum Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 25th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.62%. Unum Group’s dividend payout ratio (DPR) is 24.96%.

Unum Group declared that its Board of Directors has authorized a stock repurchase program on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 10% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total transaction of $541,100.00. Following the transaction, the executive vice president now directly owns 64,821 shares in the company, valued at approximately $3,507,464.31. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $54.98, for a total value of $3,727,369.10. Following the sale, the chief executive officer now directly owns 1,065,868 shares in the company, valued at $58,601,422.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total transaction of $541,100.00. Following the completion of the sale, the executive vice president now owns 64,821 shares in the company, valued at $3,507,464.31. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by company insiders.

Unum Group Company Profile

Unum Group, together with its subsidiaries, provides financial protection benefit solutions primarily in the United States, the United Kingdom, Poland, and internationally. It operates through Unum US, Unum International, Colonial Life, and Closed Block segment. 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.