Q3 2024 Earnings Estimate for Unum Group (NYSE:UNM) Issued By Zacks Research

Unum Group (NYSE:UNM) – Zacks Research lifted their Q3 2024 earnings estimates for Unum Group in a research note issued on Thursday, September 12th. Zacks Research analyst D. Chatterjee now expects that the financial services provider will earn $2.08 per share for the quarter, up from their previous forecast of $2.05. The consensus estimate for Unum Group’s current full-year earnings is $8.50 per share. Zacks Research also issued estimates for Unum Group’s Q4 2024 earnings at $2.10 EPS and FY2024 earnings at $8.46 EPS.

Unum Group (NYSE:UNM) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.14. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.23 billion. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.06 EPS.

A number of other equities analysts have also recently commented on UNM. Barclays started coverage on Unum Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $73.00 price target for the company. Citigroup increased their target price on shares of Unum Group from $62.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their target price on shares of Unum Group from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Wells Fargo & Company upped their price target on shares of Unum Group from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Finally, Evercore ISI raised their price objective on Unum Group from $56.00 to $58.00 and gave the company an “in-line” rating in a report on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.90.

Unum Group Stock Up 0.3 %

NYSE UNM opened at $56.40 on Monday. The business has a fifty day moving average price of $54.14 and a two-hundred day moving average price of $52.54. The stock has a market capitalization of $10.68 billion, a PE ratio of 8.38, a PEG ratio of 0.80 and a beta of 0.77. Unum Group has a fifty-two week low of $41.75 and a fifty-two week high of $58.17. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.28 and a quick ratio of 0.28.

Unum Group announced that its Board of Directors has approved a share buyback plan on Tuesday, July 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 10% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Unum Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, July 26th were paid a $0.42 dividend. This is a positive change from Unum Group’s previous quarterly dividend of $0.37. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date was Friday, July 26th. Unum Group’s payout ratio is currently 24.96%.

Insider Activity at Unum Group

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

Institutional Trading of Unum Group

Several large investors have recently modified their holdings of UNM. Versant Capital Management Inc boosted its stake in Unum Group by 361.5% during the second quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 394 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Unum Group during the 2nd quarter worth about $26,000. Salomon & Ludwin LLC acquired a new stake in shares of Unum Group in the 1st quarter valued at about $28,000. 1620 Investment Advisors Inc. bought a new stake in Unum Group in the 2nd quarter valued at about $29,000. Finally, MCF Advisors LLC acquired a new position in Unum Group during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 86.57% of the company’s stock.

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.