Unum Group (NYSE:UNM) to Issue Dividend Increase – $0.42 Per Share

Unum Group (NYSE:UNM) declared a quarterly dividend on Friday, July 12th, RTT News reports. Stockholders of record on Friday, July 26th will be paid a dividend of 0.42 per share by the financial services provider on Friday, August 16th. This represents a $1.68 annualized dividend and a dividend yield of 3.23%. This is an increase from Unum Group’s previous quarterly dividend of $0.37.

Unum Group has raised its dividend payment by an average of 6.8% per year over the last three years and has increased its dividend every year for the last 15 years. Unum Group has a payout ratio of 16.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Unum Group to earn $8.71 per share next year, which means the company should continue to be able to cover its $1.46 annual dividend with an expected future payout ratio of 16.8%.

Unum Group Stock Up 0.9 %

Shares of Unum Group stock traded up $0.48 during trading hours on Friday, hitting $51.98. The company had a trading volume of 116,312 shares, compared to its average volume of 1,261,075. The company’s 50-day moving average is $51.55 and its two-hundred day moving average is $50.08. Unum Group has a twelve month low of $41.75 and a twelve month high of $54.57. The company has a market cap of $9.84 billion, a P/E ratio of 7.68, a price-to-earnings-growth ratio of 1.09 and a beta of 0.81. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.28 and a quick ratio of 0.28.

Unum Group (NYSE:UNM) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.97 by $0.15. Unum Group had a net margin of 10.52% and a return on equity of 16.02%. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter in the prior year, the firm earned $1.87 EPS. Unum Group’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts anticipate that Unum Group will post 8.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

UNM has been the subject of a number of analyst reports. Evercore ISI upped their price objective on shares of Unum Group from $56.00 to $58.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 26th. Truist Financial upped their price objective on shares of Unum Group from $57.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Piper Sandler started coverage on shares of Unum Group in a research report on Thursday. They set an “overweight” rating and a $57.00 price objective for the company. Wells Fargo & Company increased their price target on shares of Unum Group from $64.00 to $66.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, 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. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.22.

Insiders Place Their Bets

In related news, Director Timothy F. Keaney sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $52.61, for a total value of $420,880.00. Following the sale, the director now directly owns 37,505 shares of the company’s stock, valued at $1,973,138.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Christopher W. Pyne sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $52.47, for a total value of $236,115.00. Following the transaction, the executive vice president now owns 56,262 shares in the company, valued at $2,952,067.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy F. Keaney sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $52.61, for a total transaction of $420,880.00. Following the completion of the transaction, the director now owns 37,505 shares in the company, valued at approximately $1,973,138.05. The disclosure for this sale can be found here. 0.93% of the stock is owned by corporate insiders.

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.