Unum Group (UNM) to Release Quarterly Earnings on Tuesday

Unum Group (NYSE:UNM) will be issuing its quarterly earnings data after the market closes on Tuesday, October 29th. Analysts expect the company to announce earnings of $2.09 per share for the quarter. Unum Group has set its FY 2024 guidance at 8.426-8.809 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Unum Group (NYSE:UNM) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.14. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.23 billion. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. Unum Group’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.06 earnings per share. On average, analysts expect Unum Group to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Unum Group Stock Down 2.6 %

NYSE:UNM opened at $61.67 on Monday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average of $58.10 and a 200-day moving average of $54.21. The firm has a market capitalization of $11.68 billion, a PE ratio of 9.16, a price-to-earnings-growth ratio of 0.93 and a beta of 0.77. Unum Group has a 52 week low of $41.75 and a 52 week high of $64.52.

Unum Group declared that its board has approved a stock repurchase program on Tuesday, July 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 10% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Unum Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 25th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.72%. Unum Group’s dividend payout ratio is currently 24.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup lifted their price target on Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Piper Sandler reiterated an “overweight” rating and set a $66.00 price target (up previously from $64.00) on shares of Unum Group in a research report on Friday, September 27th. Bank of America raised their price target on Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Jefferies Financial Group upped their price objective on shares of Unum Group from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Wells Fargo & Company raised their target price on shares of Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Unum Group has an average rating of “Moderate Buy” and a consensus target price of $63.64.

Insider Activity at Unum Group

In related news, CEO Richard P. Mckenney sold 67,795 shares of Unum Group 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 transaction, the chief executive officer now directly owns 1,065,868 shares in the company, valued at $58,601,422.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Richard P. Mckenney sold 67,795 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $54.98, for a total transaction of $3,727,369.10. Following the sale, the chief executive officer now owns 1,065,868 shares in the company, valued at $58,601,422.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $54.11, for a total transaction of $541,100.00. Following the completion of the transaction, the executive vice president now directly owns 64,821 shares of the company’s stock, valued at $3,507,464.31. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

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.