Zacks Research Weighs in on Unum Group’s Q3 2024 Earnings (NYSE:UNM)

Unum Group (NYSE:UNM) – Zacks Research upped their Q3 2024 earnings per share (EPS) estimates for Unum Group in a note issued to investors on Thursday, September 12th. Zacks Research analyst D. Chatterjee now expects that the financial services provider will post earnings of $2.08 per share for the quarter, up from their prior forecast of $2.05. The consensus estimate for Unum Group’s current full-year earnings is $8.50 per share. Zacks Research also issued estimates for Unum Group’s Q4 2024 earnings at $2.10 EPS and FY2024 earnings at $8.46 EPS.

UNM has been the topic of several other reports. Jefferies Financial Group upped their target price on shares of Unum Group from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Barclays assumed coverage on Unum Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $73.00 price objective on the stock. Piper Sandler assumed coverage on Unum Group in a report on Thursday, July 11th. They issued an “overweight” rating and a $57.00 target price for the company. Evercore ISI upped their price target on Unum Group from $56.00 to $58.00 and gave the stock an “in-line” rating in a report on Wednesday, June 26th. Finally, Truist Financial increased their price target on Unum Group from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $62.90.

Unum Group Stock Up 2.2 %

Shares of NYSE:UNM opened at $56.26 on Monday. The firm’s 50-day moving average is $54.03 and its two-hundred day moving average is $52.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.28 and a quick ratio of 0.28. Unum Group has a 1 year low of $41.75 and a 1 year high of $58.17. The firm has a market capitalization of $10.65 billion, a PE ratio of 8.36, a price-to-earnings-growth ratio of 0.80 and a beta of 0.77.

Unum Group (NYSE:UNM) last posted its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share (EPS) 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 firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the previous year, the business earned $2.06 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year.

Hedge Funds Weigh In On Unum Group

A number of hedge funds have recently modified their holdings of the business. Versant Capital Management Inc boosted its stake in Unum Group by 361.5% during the 2nd quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 394 shares during the period. V Square Quantitative Management LLC acquired a new position in Unum Group in the second quarter valued at $26,000. Salomon & Ludwin LLC purchased a new stake in shares of Unum Group in the first quarter valued at about $28,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Unum Group during the second quarter worth about $29,000. Finally, MCF Advisors LLC purchased a new position in shares of Unum Group during the first quarter worth about $35,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Unum Group

In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total transaction of $541,100.00. Following the sale, the executive vice president now owns 64,821 shares of the company’s stock, valued at $3,507,464.31. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $54.11, for a total transaction of $541,100.00. Following the sale, the executive vice president now owns 64,821 shares in the company, valued at $3,507,464.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard P. Mckenney sold 67,795 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $54.98, for a total value of $3,727,369.10. Following the completion of the sale, the chief executive officer now directly owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by corporate insiders.

Unum Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, July 26th were paid a dividend of $0.42 per share. This is a boost from Unum Group’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 2.99%. Unum Group’s payout ratio is presently 24.96%.

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

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.