Unum Group (NYSE:UNM) Updates FY24 Earnings Guidance

Unum Group (NYSE:UNM) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $8.20-8.35 for the period, compared to the consensus EPS estimate of $8.16.

Unum Group Stock Down 0.6 %

NYSE:UNM traded down $0.31 during mid-day trading on Tuesday, hitting $50.70. The stock had a trading volume of 1,232,870 shares, compared to its average volume of 1,389,610. Unum Group has a twelve month low of $40.04 and a twelve month high of $54.57. The stock has a 50-day simple moving average of $51.38 and a two-hundred day simple moving average of $47.66. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $9.73 billion, a PE ratio of 7.86, a PEG ratio of 1.02 and a beta of 0.87.

Unum Group (NYSE:UNM) last issued its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.86 by ($0.07). The business had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Unum Group had a return on equity of 16.03% and a net margin of 10.36%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.43 earnings per share. On average, equities research analysts anticipate that Unum Group will post 8.18 EPS for the current year.

Unum Group Dividend Announcement

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

Analysts Set New Price Targets

UNM has been the subject of a number of research analyst reports. Morgan Stanley increased their price target on shares of Unum Group from $50.00 to $52.00 and gave the company an equal weight rating in a report on Monday, April 15th. JPMorgan Chase & Co. increased their price target on shares of Unum Group from $56.00 to $58.00 and gave the company an overweight rating in a research report on Tuesday, April 2nd. StockNews.com upgraded Unum Group from a hold rating to a buy rating in a research report on Wednesday, January 31st. The Goldman Sachs Group raised their price target on Unum Group from $47.00 to $52.00 and gave the stock a neutral rating in a research report on Wednesday, January 31st. Finally, Wells Fargo & Company upped their price objective on Unum Group from $64.00 to $66.00 and gave the company an overweight rating in a research report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Unum Group currently has an average rating of Moderate Buy and an average target price of $56.38.

Insider Transactions at Unum Group

In other Unum Group news, CEO Richard P. Mckenney sold 50,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $49.15, for a total transaction of $2,457,500.00. Following the transaction, the chief executive officer now owns 1,076,753 shares of the company’s stock, valued at approximately $52,922,409.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Unum Group news, CEO Richard P. Mckenney sold 50,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $49.15, for a total transaction of $2,457,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,076,753 shares of the company’s stock, valued at approximately $52,922,409.95. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth Claire Ahmed sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $50.00, for a total value of $250,000.00. Following the transaction, the executive vice president now directly owns 55,450 shares of the company’s stock, valued at approximately $2,772,500. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,000 shares of company stock worth $4,018,100. 0.93% of the stock is currently owned by corporate 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.