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

Unum Group (NYSE:UNM) updated its FY 2024 earnings guidance on Tuesday. 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 -.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on UNM. Jefferies Financial Group increased their price target on Unum Group from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. decreased their price target on Unum Group from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Wells Fargo & Company increased their price target on Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. UBS Group raised Unum Group to a “hold” rating in a research note on Wednesday, October 9th. Finally, Bank of America increased their price target on Unum Group from $54.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.09.

Unum Group Trading Down 0.3 %

Shares of NYSE:UNM traded down $0.21 during midday trading on Friday, reaching $63.97. The company had a trading volume of 608,916 shares, compared to its average volume of 1,240,460. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.28. Unum Group has a 1-year low of $41.75 and a 1-year high of $64.91. The firm has a market cap of $11.88 billion, a price-to-earnings ratio of 6.97, a price-to-earnings-growth ratio of 0.95 and a beta of 0.77. The company has a fifty day simple moving average of $58.81 and a two-hundred day simple moving average of $54.51.

Unum Group (NYSE:UNM) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the company posted $1.94 EPS. Unum Group’s revenue for the quarter was up 4.0% on a year-over-year basis. Research analysts predict that Unum Group will post 8.5 earnings per share for the current year.

Unum Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 25th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Friday, October 25th. Unum Group’s dividend payout ratio is 18.18%.

Unum Group declared that its Board of Directors has approved a share buyback plan 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 buy up to 10% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity

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