Unum Group (NYSE:UNM) Updates FY 2024 Earnings Guidance

Unum Group (NYSE:UNM) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 8.426-8.809 for the period, compared to the consensus EPS estimate of 8.250. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wells Fargo & Company upped their target price on shares of Unum Group from $64.00 to $66.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Evercore ISI boosted their price objective on shares of Unum Group from $56.00 to $58.00 and gave the company an in-line rating in a research report on Wednesday, June 26th. Truist Financial lifted their target price on Unum Group from $62.00 to $70.00 and gave the stock a buy rating in a research report on Thursday. Citigroup raised their price target on Unum Group from $62.00 to $69.00 and gave the company a buy rating in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Unum Group from $64.00 to $65.00 and gave the stock an overweight rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $61.44.

Unum Group Price Performance

Shares of NYSE:UNM traded down $2.66 during trading on Friday, reaching $53.90. 1,955,766 shares of the company’s stock traded hands, compared to its average volume of 1,276,254. The firm has a market cap of $10.21 billion, a PE ratio of 8.40, a P/E/G ratio of 1.12 and a beta of 0.81. Unum Group has a fifty-two week low of $41.75 and a fifty-two week high of $58.17. The company has a 50-day simple moving average of $51.95 and a 200-day simple moving average of $50.97. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.34.

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, topping the consensus estimate of $2.02 by $0.14. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Unum Group had a return on equity of 15.80% and a net margin of 10.40%. Unum Group’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.06 EPS. As a group, analysts predict that Unum Group will post 8.45 earnings per share for the current year.

Unum Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, July 26th will be paid a $0.42 dividend. This is a boost from Unum Group’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 3.12%. Unum Group’s dividend payout ratio is 24.96%.

Insiders Place Their Bets

In other news, EVP Christopher W. Pyne sold 4,500 shares of the 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 sale, the executive vice president now directly owns 56,262 shares in the company, valued at $2,952,067.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Timothy F. Keaney sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $52.61, for a total transaction of $420,880.00. Following the transaction, the director now directly owns 37,505 shares in the company, valued at $1,973,138.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Christopher W. Pyne sold 4,500 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were 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 disclosure for this sale can be found here. 0.93% of the stock is currently owned by insiders.

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.