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

Unum Group (NYSE:UNM - Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 8.426-8.809 for the period, compared to the consensus EPS estimate of 8.490. The company issued revenue guidance of -.

Unum Group Trading Down 0.3 %

NYSE:UNM traded down $0.18 during trading hours on Tuesday, reaching $61.67. 1,561,543 shares of the company were exchanged, compared to its average volume of 1,231,339. The firm has a market cap of $11.68 billion, a price-to-earnings ratio of 9.16, a PEG ratio of 0.91 and a beta of 0.77. The stock has a 50 day simple moving average of $58.24 and a 200 day simple moving average of $54.29. Unum Group has a 52-week low of $41.75 and a 52-week high of $64.52. 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 (NYSE:UNM - Get Free Report) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.14. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same period last year, the company posted $2.06 EPS. The business's quarterly revenue was up 3.9% on a year-over-year basis. As a group, analysts predict that Unum Group will post 8.49 EPS for the current year.

Unum Group Announces Dividend

The company 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 $0.42 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.72%. Unum Group's dividend payout ratio (DPR) is 24.96%.

Unum Group announced that its board has initiated a share buyback program on Tuesday, July 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 10% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Truist Financial boosted their price objective on shares of Unum Group from $62.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. Barclays decreased their price target on shares of Unum Group from $73.00 to $72.00 and set an "overweight" rating for the company in a research report on Tuesday, October 8th. Bank of America raised their price objective on Unum Group from $54.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, October 10th. UBS Group raised Unum Group to a "hold" rating in a research report on Wednesday, October 9th. Finally, Piper Sandler reiterated an "overweight" rating and set a $66.00 target price (up from $64.00) on shares of Unum Group in a report on Friday, September 27th. 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.com, Unum Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.64.

Insider Activity at Unum Group

In other news, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group 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 completion of the transaction, the executive vice president now directly owns 64,821 shares of the company's stock, valued at approximately $3,507,464.31. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Timothy Gerald Arnold sold 10,000 shares of the company'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 owns 64,821 shares in the company, valued at approximately $3,507,464.31. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard P. Mckenney sold 67,795 shares of the business'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 transaction, the chief executive officer now owns 1,065,868 shares of the company's stock, 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. Corporate insiders own 0.93% 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.

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