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 earnings per share guidance of 8.426-8.809 for the period, compared to the consensus earnings per share estimate of 8.490. The company issued revenue guidance of -.

Unum Group Stock Performance

Shares of Unum Group stock traded up $2.74 during mid-day trading on Wednesday, hitting $64.37. 3,448,906 shares of the stock were exchanged, compared to its average volume of 1,241,901. Unum Group has a 12 month low of $41.75 and a 12 month high of $64.91. The company has a 50-day simple moving average of $58.40 and a 200 day simple moving average of $54.37. The company has a market capitalization of $12.19 billion, a P/E ratio of 9.55, a P/E/G ratio of 0.91 and a beta of 0.77. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.28 and a current ratio of 0.28.

Unum Group (NYSE:UNM) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.04. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the previous year, the firm earned $1.94 earnings per share. The business’s revenue was up 4.0% on a year-over-year basis. Sell-side analysts anticipate that Unum Group will post 8.49 earnings per share for the current fiscal year.

Unum Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 25th will be issued 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 yield of 2.61%. Unum Group’s dividend payout ratio (DPR) is presently 24.96%.

Unum Group declared that its board has authorized a share buyback plan on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 10% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on UNM shares. Evercore ISI raised their price target on shares of Unum Group from $59.00 to $66.00 and gave the stock an “in-line” rating in a research note on Wednesday. Wells Fargo & Company raised their target price on Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. UBS Group upgraded Unum Group to a “hold” rating in a research note on Wednesday, October 9th. Truist Financial increased their price target on Unum Group from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley boosted their price objective on Unum Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Unum Group has an average rating of “Moderate Buy” and a consensus price target of $65.64.

Insider Activity

In other news, EVP Timothy Gerald Arnold sold 10,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 64,821 shares in the company, valued at $3,507,464.31. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $54.98, for a total transaction of $3,727,369.10. Following the transaction, the chief executive officer now directly owns 1,065,868 shares in the company, valued at approximately $58,601,422.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the executive vice president now owns 64,821 shares in the company, valued at $3,507,464.31. The trade was 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 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.