Unum Group (NYSE:UNM) Announces Earnings Results, Beats Expectations By $0.14 EPS

Unum Group (NYSE:UNM) posted its quarterly earnings data on Tuesday. The financial services provider reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.14, Briefing.com reports. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.23 billion. Unum Group had a return on equity of 16.02% and a net margin of 10.52%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.06 earnings per share. Unum Group updated its FY 2024 guidance to 8.426-8.809 EPS.

Unum Group Trading Up 6.1 %

Shares of Unum Group stock traded up $3.32 during trading on Wednesday, hitting $57.60. The company’s stock had a trading volume of 1,854,158 shares, compared to its average volume of 1,262,864. The stock has a market cap of $10.91 billion, a price-to-earnings ratio of 8.57, a price-to-earnings-growth ratio of 1.06 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 has a 52 week low of $41.75 and a 52 week high of $58.17. The stock has a 50-day moving average price of $51.77 and a two-hundred day moving average price of $50.88.

Unum Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Friday, July 26th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Friday, July 26th. This is a positive change from Unum Group’s previous quarterly dividend of $0.37. Unum Group’s dividend payout ratio (DPR) is 24.96%.

Insiders Place Their Bets

In other news, EVP Christopher W. Pyne sold 4,500 shares of the 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 sale, the executive vice president now owns 56,262 shares of the company’s stock, valued at $2,952,067.14. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Christopher W. Pyne sold 4,500 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 56,262 shares of the company’s stock, valued at approximately $2,952,067.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Timothy F. Keaney sold 8,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were 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 disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

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

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.