Unum Group FY2024 EPS Forecast Increased by Zacks Research

Unum Group (NYSE:UNM) – Equities research analysts at Zacks Research increased their FY2024 earnings per share (EPS) estimates for Unum Group in a research report issued to clients and investors on Tuesday, November 12th. Zacks Research analyst D. Chatterjee now forecasts that the financial services provider will earn $8.49 per share for the year, up from their prior forecast of $8.46. The consensus estimate for Unum Group’s current full-year earnings is $8.53 per share. Zacks Research also issued estimates for Unum Group’s Q4 2024 earnings at $2.08 EPS, Q1 2025 earnings at $2.15 EPS, Q2 2025 earnings at $2.19 EPS, Q3 2025 earnings at $2.27 EPS, FY2025 earnings at $9.24 EPS, Q1 2026 earnings at $2.35 EPS, Q2 2026 earnings at $2.49 EPS, Q3 2026 earnings at $2.72 EPS and FY2026 earnings at $10.08 EPS.

Unum Group (NYSE:UNM) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same period last year, the business earned $1.94 earnings per share. Unum Group’s revenue was up 4.0% compared to the same quarter last year.

Other research analysts have also recently issued research reports about the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $66.00 target price (up previously from $64.00) on shares of Unum Group in a research report on Friday, September 27th. Citigroup upped their price objective on shares of Unum Group from $62.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Bank of America lifted their target price on shares of Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Barclays upped their price target on Unum Group from $72.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. dropped their price objective 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. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.73.

Unum Group Stock Performance

Shares of Unum Group stock opened at $73.20 on Thursday. The business’s fifty day simple moving average is $61.92 and its 200-day simple moving average is $55.89. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. The firm has a market cap of $13.37 billion, a PE ratio of 7.92, a price-to-earnings-growth ratio of 1.04 and a beta of 0.76. Unum Group has a 52 week low of $41.86 and a 52 week high of $73.24.

Institutional Investors Weigh In On Unum Group

Institutional investors have recently modified their holdings of the company. ProShare Advisors LLC raised its stake in shares of Unum Group by 89.8% during the 2nd quarter. ProShare Advisors LLC now owns 1,207,756 shares of the financial services provider’s stock worth $61,728,000 after buying an additional 571,436 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Unum Group by 62.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,119,870 shares of the financial services provider’s stock worth $57,237,000 after purchasing an additional 432,240 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Unum Group by 151.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 509,702 shares of the financial services provider’s stock worth $30,297,000 after buying an additional 307,175 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Unum Group by 105.8% during the first quarter. Sei Investments Co. now owns 377,627 shares of the financial services provider’s stock valued at $20,263,000 after buying an additional 194,125 shares during the period. Finally, M&G Plc purchased a new position in shares of Unum Group during the first quarter valued at approximately $8,988,000. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Insider Transactions at Unum Group

In other news, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $69.56, for a total value of $104,340.00. Following the transaction, the chief accounting officer now owns 8,361 shares of the company’s stock, valued at approximately $581,591.16. The trade was a 15.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard P. Mckenney sold 67,795 shares of the 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 of the company’s stock, valued at approximately $58,601,422.64. This represents a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,844 shares of company stock valued at $5,411,032. Corporate insiders own 0.93% of the company’s stock.

Unum Group declared that its Board of Directors has authorized a stock buyback plan on Tuesday, July 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 10% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Unum Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 25th were given a dividend of $0.42 per share. The ex-dividend date was Friday, October 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.30%. Unum Group’s dividend payout ratio is currently 18.18%.

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.