Unum Group (UNM) to Release Earnings on Tuesday

Unum Group (NYSE:UNM) will be issuing its quarterly earnings data after the market closes on Tuesday, October 29th. Analysts expect the company to announce earnings of $2.09 per share for the quarter. Unum Group has set its FY 2024 guidance at 8.426-8.809 EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

Unum Group (NYSE:UNM) last announced its earnings results on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share for the quarter, beating 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 company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same period last year, the business posted $2.06 EPS. The company’s revenue was up 3.9% on a year-over-year basis. On average, analysts expect Unum Group to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Unum Group Trading Down 2.0 %

Shares of Unum Group stock opened at $61.67 on Friday. The firm has a market cap of $11.68 billion, a price-to-earnings ratio of 9.16, a price-to-earnings-growth ratio of 0.93 and a beta of 0.77. Unum Group has a 52-week low of $41.75 and a 52-week high of $64.52. The company’s 50-day simple moving average is $58.10 and its 200-day simple moving average is $54.19. 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 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 given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.72%. The ex-dividend date is Friday, October 25th. Unum Group’s payout ratio is 24.96%.

Unum Group declared that its Board of Directors has authorized a stock repurchase 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 repurchase up to 10% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity

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

Analyst Ratings Changes

Several equities analysts recently issued reports on UNM shares. Bank of America lifted their price objective on Unum Group from $54.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price objective on shares of Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Jefferies Financial Group lifted their price objective on Unum Group from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Piper Sandler reiterated an “overweight” rating and set a $66.00 target price (up previously from $64.00) on shares of Unum Group in a report on Friday, September 27th. Finally, Wells Fargo & Company boosted their price target on Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.64.

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.