Unum Group (NYSE:UNM) Announces Quarterly Earnings Results

Unum Group (NYSE:UNM) issued its quarterly earnings data on Tuesday. The financial services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.15, Briefing.com reports. Unum Group had a net margin of 10.36% and a return on equity of 16.03%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.20 billion. During the same period last year, the firm posted $1.87 EPS. Unum Group’s revenue for the quarter was up 5.4% on a year-over-year basis. 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 Down 0.6 %

UNM opened at $50.70 on Wednesday. The stock has a market capitalization of $9.73 billion, a PE ratio of 7.81, a P/E/G ratio of 1.02 and a beta of 0.87. The firm’s fifty day moving average price is $51.41 and its 200 day moving average price is $47.66. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.27 and a quick ratio of 0.27. Unum Group has a 12-month low of $40.04 and a 12-month high of $54.57.

Unum Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, April 26th will be issued a $0.365 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.46 annualized dividend and a yield of 2.88%. Unum Group’s dividend payout ratio is presently 22.50%.

Insider Buying and Selling at Unum Group

In other news, CFO Steven Andrew Zabel sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $51.06, for a total transaction of $510,600.00. Following the completion of the transaction, the chief financial officer now owns 122,246 shares in the company, valued at $6,241,880.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Unum Group news, CFO Steven Andrew Zabel sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $51.06, for a total transaction of $510,600.00. Following the transaction, the chief financial officer now owns 122,246 shares in the company, valued at $6,241,880.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard P. Mckenney sold 50,000 shares of Unum Group stock in a transaction on Friday, March 1st. The shares were sold at an average price of $49.15, for a total value of $2,457,500.00. Following the transaction, the chief executive officer now directly owns 1,076,753 shares of the company’s stock, valued at $52,922,409.95. The disclosure for this sale can be found here. Insiders sold a total of 81,000 shares of company stock worth $4,018,100 over the last 90 days. Insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

UNM has been the topic of several research reports. The Goldman Sachs Group raised their price objective 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. JPMorgan Chase & Co. raised their target price on shares of Unum Group from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. StockNews.com upgraded shares of Unum Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 31st. Morgan Stanley raised their target price on shares of 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, Wells Fargo & Company raised their target price on shares of Unum Group from $64.00 to $66.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $56.38.

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.