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

Unum Group (NYSE:UNM) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 8.200-8.350 for the period, compared to the consensus estimate of 8.160. The company issued revenue guidance of -. Unum Group also updated its FY24 guidance to $8.20-8.35 EPS.

Analysts Set New Price Targets

A number of research analysts have commented on the company. The Goldman Sachs Group boosted their price objective on Unum Group from $47.00 to $52.00 and gave the stock a neutral rating in a research note on Wednesday, January 31st. Morgan Stanley boosted their price objective on Unum Group from $50.00 to $52.00 and gave the stock an equal weight rating in a research note on Monday, April 15th. JPMorgan Chase & Co. boosted their price objective on 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 Unum Group from a hold rating to a buy rating in a research note on Wednesday, January 31st. Finally, Wells Fargo & Company boosted their price objective on Unum Group from $64.00 to $66.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $56.38.

Unum Group Stock Down 0.6 %

Shares of NYSE UNM traded down $0.32 during midday trading on Tuesday, reaching $50.69. 1,462,433 shares of the company’s stock were exchanged, compared to its average volume of 1,389,633. Unum Group has a 52-week low of $40.04 and a 52-week high of $54.57. The stock has a market capitalization of $9.73 billion, a PE ratio of 7.86, a price-to-earnings-growth ratio of 1.02 and a beta of 0.87. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.27 and a current ratio of 0.27. The business’s fifty day moving average price is $51.38 and its two-hundred day moving average price is $47.66.

Unum Group (NYSE:UNM) last announced its earnings results on Tuesday, January 30th. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.07). Unum Group had a return on equity of 16.03% and a net margin of 10.36%. The business had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the previous year, the firm posted $1.43 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. Analysts forecast that Unum Group will post 8.18 EPS for the current year.

Unum Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, April 26th will be given a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Thursday, April 25th. Unum Group’s payout ratio is 22.50%.

Insider Activity at Unum Group

In related news, EVP Elizabeth Claire Ahmed sold 5,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $50.00, for a total value of $250,000.00. Following the completion of the sale, the executive vice president now directly owns 55,450 shares of the company’s stock, valued at $2,772,500. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Elizabeth Claire Ahmed sold 5,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $50.00, for a total value of $250,000.00. Following the completion of the sale, the executive vice president now directly owns 55,450 shares of the company’s stock, valued at $2,772,500. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard P. Mckenney sold 50,000 shares of the business’s stock in a transaction dated 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 completion of the sale, 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 valued at $4,018,100 over the last three months. 0.93% of the stock is 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.