Unum Group (NYSE:UNM) Issues Quarterly Earnings Results

Unum Group (NYSE:UNM) issued its quarterly earnings data on Tuesday. The financial services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03, Briefing.com reports. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.94 earnings per share. Unum Group updated its FY 2024 guidance to 8.426-8.809 EPS.

Unum Group Stock Performance

UNM opened at $64.21 on Friday. Unum Group has a 1-year low of $41.75 and a 1-year high of $64.91. The stock has a market cap of $11.93 billion, a P/E ratio of 6.95, a P/E/G ratio of 0.95 and a beta of 0.77. The stock’s 50 day simple moving average is $58.61 and its 200 day simple moving average is $54.44. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28.

Unum Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Friday, October 25th. Unum Group’s dividend payout ratio (DPR) is currently 18.18%.

Analyst Ratings Changes

A number of brokerages recently weighed in on UNM. UBS Group upgraded shares of Unum Group to a “hold” rating in a research note on Wednesday, October 9th. Morgan Stanley increased their target price on shares of Unum Group from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Bank of America boosted their price target on Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Truist Financial upped their price objective on Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Friday. Finally, Citigroup boosted their target price on Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Unum Group presently has an average rating of “Moderate Buy” and an average price target of $66.09.

Insider Buying and Selling

In other news, CEO Richard P. Mckenney sold 67,795 shares of Unum Group stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Richard P. Mckenney sold 67,795 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the business’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 completion of the transaction, the executive vice president now directly owns 64,821 shares of the company’s stock, valued at $3,507,464.31. The trade was 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 declared that its board has authorized a share buyback 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 purchase up to 10% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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.