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

Unum Group (NYSE:UNM) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 8.426-8.809 for the period, compared to the consensus EPS estimate of 8.250. The company issued revenue guidance of -.

Unum Group Stock Up 1.4 %

Shares of NYSE UNM traded up $0.76 during trading on Tuesday, hitting $54.28. 1,465,240 shares of the company traded hands, compared to its average volume of 1,258,785. The firm has a market capitalization of $10.28 billion, a price-to-earnings ratio of 8.07, a P/E/G ratio of 1.06 and a beta of 0.81. The business’s fifty day moving average is $51.74 and its 200 day moving average is $50.82. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.28 and a current ratio of 0.28. Unum Group has a fifty-two week low of $41.75 and a fifty-two week high of $54.66.

Unum Group (NYSE:UNM) last released its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.97 by $0.15. Unum Group had a return on equity of 16.02% and a net margin of 10.52%. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter in the previous year, the company posted $1.87 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts predict that Unum Group will post 8.25 earnings per share for the current fiscal year.

Unum Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Friday, July 26th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Friday, July 26th. This is a positive change from Unum Group’s previous quarterly dividend of $0.37. Unum Group’s dividend payout ratio is currently 24.96%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wells Fargo & Company increased their price target on Unum Group from $64.00 to $66.00 and gave the company an overweight rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. increased their target price on shares of Unum Group from $58.00 to $64.00 and gave the company an overweight rating in a report on Tuesday, July 2nd. Citigroup boosted their price target 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. Evercore ISI upped their price objective on shares of Unum Group from $56.00 to $58.00 and gave the stock an in-line rating in a research report on Wednesday, June 26th. Finally, Jefferies Financial Group lifted their target price on shares of Unum Group from $63.00 to $64.00 and gave the stock a buy rating in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $60.44.

Insider Activity at Unum Group

In other news, EVP Christopher W. Pyne sold 4,500 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $52.47, for a total transaction of $236,115.00. Following the completion of the transaction, the executive vice president now owns 56,262 shares in the company, valued at approximately $2,952,067.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Christopher W. Pyne sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $52.47, for a total value of $236,115.00. Following the sale, the executive vice president now owns 56,262 shares of the company’s stock, valued at $2,952,067.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Timothy F. Keaney sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $52.61, for a total transaction of $420,880.00. Following the completion of the transaction, the director now directly owns 37,505 shares of the company’s stock, valued at $1,973,138.05. The disclosure for this sale can be found here. 0.93% of the stock is owned by company insiders.

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.