Unum Group (NYSE:UNM) Issues 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 -.

Analysts Set New Price Targets

Several research firms have recently weighed in on UNM. Truist Financial lifted their target price on shares of Unum Group from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Citigroup raised their price target on shares of Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Jefferies Financial Group raised their target price on Unum Group from $63.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. cut their target price on Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Finally, Barclays lifted their price objective on Unum Group from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Unum Group has an average rating of “Moderate Buy” and a consensus price target of $65.64.

Unum Group Trading Down 0.3 %

Shares of UNM traded down $0.18 during trading hours on Thursday, reaching $64.21. The stock had a trading volume of 1,611,440 shares, compared to its average volume of 1,243,653. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.33. Unum Group has a 52 week low of $41.75 and a 52 week high of $64.91. The firm has a 50-day moving average of $58.61 and a 200 day moving average of $54.44. The company has a market cap of $12.16 billion, a P/E ratio of 9.56, a P/E/G ratio of 0.91 and a beta of 0.77.

Unum Group (NYSE:UNM) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.13 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 company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the business posted $1.94 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts expect that Unum Group will post 8.49 earnings per share for the current fiscal year.

Unum Group Dividend Announcement

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

Unum Group announced that its Board of Directors has initiated a stock 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 purchase up to 10% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity at Unum Group

In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of the stock in a transaction dated 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 directly owns 64,821 shares of the company’s stock, valued at $3,507,464.31. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of the stock in a transaction dated 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 directly owns 64,821 shares of the company’s stock, valued at $3,507,464.31. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $54.98, for a total transaction 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 approximately $58,601,422.64. 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.

About Unum Group

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.