Unum Group (NYSE:UNM) Issues Earnings Results

Unum Group (NYSE:UNM) posted its quarterly earnings data on Tuesday. The financial services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.15, Briefing.com reports. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.20 billion. Unum Group had a net margin of 10.52% and a return on equity of 16.32%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.87 EPS. Unum Group updated its FY24 guidance to $8.20-8.35 EPS and its FY 2024 guidance to 8.200-8.350 EPS.

Unum Group Trading Up 2.3 %

Shares of NYSE UNM opened at $51.87 on Thursday. The stock has a market cap of $9.95 billion, a price-to-earnings ratio of 7.71, a PEG ratio of 1.02 and a beta of 0.87. The business has a 50 day simple moving average of $51.47 and a 200 day simple moving average of $47.69. Unum Group has a 52 week low of $40.04 and a 52 week high of $54.57. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.27 and a current ratio of 0.27.

Unum Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, April 26th will be paid a $0.365 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.46 annualized dividend and a dividend yield of 2.81%. Unum Group’s payout ratio is 21.69%.

Insider Activity at Unum Group

In related news, EVP Elizabeth Claire Ahmed sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $50.00, for a total value of $250,000.00. Following the completion of the sale, the executive vice president now directly owns 55,450 shares in the company, valued at approximately $2,772,500. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Richard P. Mckenney sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $49.15, for a total transaction of $2,457,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,076,753 shares in the company, valued at $52,922,409.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Elizabeth Claire Ahmed sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $50.00, for a total value of $250,000.00. Following the transaction, the executive vice president now owns 55,450 shares of the company’s stock, valued at $2,772,500. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,000 shares of company stock valued at $4,018,100. 0.93% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Unum Group from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company lifted their price objective on shares of Unum Group from $64.00 to $66.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. The Goldman Sachs Group boosted their price target on shares of Unum Group from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 31st. Morgan Stanley lifted their price target on Unum Group from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Finally, StockNews.com raised Unum Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Unum Group has a consensus rating of “Moderate Buy” and a consensus target price of $56.38.

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.