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

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

Unum Group Stock Down 0.6 %

NYSE UNM traded down $0.32 during trading hours on Tuesday, hitting $50.69. 1,462,433 shares of the company traded hands, compared to its average volume of 1,389,633. The business’s 50-day moving average is $51.41 and its 200-day moving average is $47.66. Unum Group has a twelve month low of $40.04 and a twelve month high of $54.57. 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 stock has a market capitalization of $9.73 billion, a price-to-earnings ratio of 7.81, a P/E/G ratio of 1.02 and a beta of 0.87.

Unum Group (NYSE:UNM) last released 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 during the quarter, compared to the consensus estimate of $3.14 billion. Unum Group had a net margin of 10.36% and a return on equity of 16.03%. Unum Group’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 EPS. Sell-side analysts anticipate that Unum Group will post 8.18 earnings per share for the current year.

Unum Group Dividend Announcement

The firm also recently disclosed 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 is Thursday, April 25th. This represents a $1.46 annualized dividend and a yield of 2.88%. Unum Group’s dividend payout ratio is 22.50%.

Wall Street Analyst Weigh In

Several analysts have issued reports on UNM shares. The Goldman Sachs Group upped their price objective on Unum Group from $47.00 to $52.00 and gave the company a neutral rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. upped their price objective on Unum Group from $56.00 to $58.00 and gave the company an overweight rating in a research note on Tuesday, April 2nd. Morgan Stanley upped their price objective on Unum Group from $50.00 to $52.00 and gave the company an equal weight rating in a research note on Monday, April 15th. 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 note on Thursday, April 11th. Finally, StockNews.com upgraded Unum Group from a hold rating to a buy rating in a research note on Wednesday, January 31st. Two investment 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 has a consensus rating of Moderate Buy and an average price target of $56.38.

Insider Transactions at Unum Group

In other news, CEO Richard P. Mckenney sold 50,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,076,753 shares in the company, valued at $52,922,409.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Lisa G. Iglesias sold 16,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $50.00, for a total transaction of $800,000.00. Following the sale, the executive vice president now owns 40,840 shares of the company’s stock, valued at $2,042,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard P. Mckenney sold 50,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $49.15, for a total value of $2,457,500.00. Following the sale, the chief executive officer now directly owns 1,076,753 shares in the company, valued at approximately $52,922,409.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,000 shares of company stock worth $4,018,100. Company insiders own 0.93% of the company’s stock.

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.