Unum Group (NYSE:UNM) Announces Earnings Results

Unum Group (NYSE:UNM) issued its earnings results on Tuesday. The financial services provider reported $2.16 EPS for the quarter, topping the consensus estimate of $2.02 by $0.14, Briefing.com reports. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.23 billion. Unum Group had a return on equity of 16.02% and a net margin of 10.52%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.06 earnings per share. Unum Group updated its FY 2024 guidance to 8.426-8.809 EPS.

Unum Group Stock Performance

Unum Group stock traded up $3.26 during mid-day trading on Wednesday, reaching $57.54. 1,588,297 shares of the company’s stock were exchanged, compared to its average volume of 1,261,043. The business’s fifty day simple moving average is $51.77 and its 200 day simple moving average is $50.88. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $10.90 billion, a PE ratio of 8.57, a P/E/G ratio of 1.06 and a beta of 0.81. Unum Group has a one year low of $41.75 and a one year high of $58.17.

Unum Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Friday, July 26th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, July 26th. This is a boost from Unum Group’s previous quarterly dividend of $0.37. This represents a $1.68 annualized dividend and a yield of 2.92%. Unum Group’s payout ratio is 24.96%.

Insider Activity at Unum Group

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

Analyst Upgrades and Downgrades

UNM has been the topic of a number of recent analyst reports. Citigroup boosted their price objective on Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. increased their price objective on shares of Unum Group from $64.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley upped 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. Evercore ISI raised their price objective on Unum Group from $56.00 to $58.00 and gave the company an “in-line” rating in a research note on Wednesday, June 26th. Finally, Wells Fargo & Company increased their target price on Unum Group from $64.00 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Unum Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.56.

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.