Unum Group (UNM) Set to Announce Quarterly Earnings on Tuesday

Unum Group (NYSE:UNM) is set to issue 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 registering for the company’s earnings conference call can do so using this link.

Unum Group (NYSE:UNM) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.14. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same period in the prior year, the company earned $2.06 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. 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 Trading Down 2.0 %

NYSE UNM opened at $61.67 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.28 and a current ratio of 0.28. Unum Group has a one year low of $41.75 and a one year high of $64.52. The company has a 50-day simple moving average of $58.10 and a 200-day simple moving average of $54.19. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.72%. Unum Group’s dividend payout ratio is currently 24.96%.

Unum Group announced that its Board of Directors has authorized a share repurchase program on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 10% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Unum Group news, CEO Richard P. Mckenney sold 67,795 shares of Unum Group 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 transaction, the chief executive officer now directly owns 1,065,868 shares in the company, valued at approximately $58,601,422.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of the company’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 value of $541,100.00. Following the completion of the transaction, the executive vice president now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Richard P. Mckenney sold 67,795 shares of the 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 owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on UNM. Jefferies Financial Group boosted their price objective on Unum Group from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Truist Financial upped their price target on shares of Unum Group from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. dropped their price objective on shares of Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Wells Fargo & Company boosted 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. Finally, Citigroup raised their price target on shares of Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.64.

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.