Unum Group (NYSE:UNM) Issues Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Unum Group (NYSE:UNM) released its quarterly earnings data on Tuesday. The financial services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.15, Briefing.com reports. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Unum Group had a return on equity of 16.32% and a net margin of 10.52%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.87 EPS. Unum Group updated its FY24 guidance to $8.20-8.35 EPS and its FY 2024 guidance to 8.200-8.350 EPS.

Unum Group Stock Up 2.3 %

UNM opened at $51.87 on Thursday. The firm has a 50-day simple moving average of $51.47 and a two-hundred day simple moving average of $47.69. Unum Group has a 52 week low of $40.04 and a 52 week high of $54.57. The company has a market capitalization of $9.95 billion, a PE ratio of 7.71, a price-to-earnings-growth ratio of 1.02 and a beta of 0.87. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.36.

Unum Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, April 26th will be paid a $0.365 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.46 dividend on an annualized basis and a yield of 2.81%. Unum Group’s payout ratio is presently 21.69%.

Insider Buying and Selling at Unum Group

In other Unum Group news, EVP Elizabeth Claire Ahmed sold 5,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the transaction, the executive vice president now owns 55,450 shares of the company’s stock, valued at approximately $2,772,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Richard P. Mckenney sold 50,000 shares of the 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 transaction, the chief executive officer now owns 1,076,753 shares of the company’s stock, valued at approximately $52,922,409.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Elizabeth Claire Ahmed sold 5,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of 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. Insiders sold 81,000 shares of company stock valued at $4,018,100 in the last 90 days. Insiders own 0.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on UNM. StockNews.com raised Unum Group from a “hold” rating to a “buy” rating in a report on Wednesday, January 31st. Wells Fargo & Company increased their price target on Unum Group from $64.00 to $66.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. increased their price target on Unum Group from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. The Goldman Sachs Group increased their price target on Unum Group from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, January 31st. Finally, Morgan Stanley upped 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. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Unum Group currently has an average rating of “Moderate Buy” and an average target price of $56.38.

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.