Unum Group (NYSE:UNM) Posts Earnings Results, Beats Estimates By $0.14 EPS

Unum Group (NYSE:UNM) posted its quarterly earnings results on Tuesday. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.14, Briefing.com reports. Unum Group had a return on equity of 15.80% and a net margin of 10.40%. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the prior year, the company earned $2.06 EPS. The business’s revenue was up 3.9% compared to the same quarter last year. Unum Group updated its FY 2024 guidance to 8.426-8.809 EPS.

Unum Group Trading Up 0.9 %

Unum Group stock opened at $58.06 on Thursday. The stock has a 50-day moving average of $51.87 and a two-hundred day moving average of $50.93. The company has a debt-to-equity ratio of 0.34, 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 $58.17. The stock has a market cap of $11.00 billion, a PE ratio of 8.55, a price-to-earnings-growth ratio of 1.08 and a beta of 0.81.

Unum Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, July 26th will be paid a $0.42 dividend. The ex-dividend date is Friday, July 26th. This is a boost from Unum Group’s previous quarterly dividend of $0.37. This represents a $1.68 dividend on an annualized basis and a yield of 2.89%. Unum Group’s dividend payout ratio (DPR) is 24.96%.

Analyst Ratings Changes

A number of research firms have recently issued reports on UNM. Jefferies Financial Group increased their price target on Unum Group from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Wells Fargo & Company increased their price target on Unum Group from $64.00 to $66.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Truist Financial upped their price objective on Unum Group from $57.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. upped their price objective on Unum Group from $64.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Evercore ISI upped their price objective on Unum Group from $56.00 to $58.00 and gave the stock an “in-line” rating in a research note on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $60.56.

Insider Buying and Selling at Unum Group

In other news, Director Timothy F. Keaney sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $52.61, for a total value of $420,880.00. Following the completion of 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 document filed with the SEC, which is available at the SEC website. In other news, Director Timothy F. Keaney sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $52.61, for a total value of $420,880.00. Following the completion of 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 document filed with the SEC, which is available at the SEC website. Also, EVP Christopher W. Pyne sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was 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 of the company’s stock, valued at $2,952,067.14. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by company 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.