Brokers Set Expectations for Unum Group FY2024 Earnings

Unum Group (NYSE:UNM) – Investment analysts at Zacks Research boosted their FY2024 earnings per share (EPS) estimates for Unum Group in a research report issued to clients and investors on Tuesday, November 12th. Zacks Research analyst D. Chatterjee now anticipates that the financial services provider will post earnings per share of $8.49 for the year, up from their prior estimate of $8.46. The consensus estimate for Unum Group’s current full-year earnings is $8.52 per share. Zacks Research also issued estimates for Unum Group’s Q4 2024 earnings at $2.08 EPS, Q1 2025 earnings at $2.15 EPS, Q2 2025 earnings at $2.19 EPS, Q3 2025 earnings at $2.27 EPS, FY2025 earnings at $9.24 EPS, Q1 2026 earnings at $2.35 EPS, Q2 2026 earnings at $2.49 EPS, Q3 2026 earnings at $2.72 EPS and FY2026 earnings at $10.08 EPS.

Several other equities analysts have also weighed in on the stock. Citigroup lifted their target price on shares of Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Truist Financial increased their target price on Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, November 1st. UBS Group raised Unum Group to a “hold” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price target on Unum Group from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Finally, Evercore ISI upgraded shares of Unum Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $67.00 to $84.00 in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.73.

Unum Group Trading Down 0.4 %

Shares of UNM stock opened at $71.04 on Thursday. Unum Group has a fifty-two week low of $41.86 and a fifty-two week high of $71.44. The firm’s 50 day moving average price is $61.20 and its two-hundred day moving average price is $55.62. The stock has a market cap of $12.97 billion, a price-to-earnings ratio of 7.69, a price-to-earnings-growth ratio of 1.05 and a beta of 0.76. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.03. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.26 billion. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.94 EPS.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its holdings in shares of Unum Group by 89.8% during the second quarter. ProShare Advisors LLC now owns 1,207,756 shares of the financial services provider’s stock valued at $61,728,000 after acquiring an additional 571,436 shares during the period. Victory Capital Management Inc. boosted its stake in Unum Group by 62.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,119,870 shares of the financial services provider’s stock valued at $57,237,000 after purchasing an additional 432,240 shares during the period. Sei Investments Co. grew its position in Unum Group by 105.8% in the 1st quarter. Sei Investments Co. now owns 377,627 shares of the financial services provider’s stock worth $20,263,000 after purchasing an additional 194,125 shares during the last quarter. M&G Plc acquired a new stake in shares of Unum Group in the first quarter valued at approximately $8,988,000. Finally, Neo Ivy Capital Management bought a new stake in shares of Unum Group during the second quarter valued at approximately $6,640,000. 86.57% of the stock is currently owned by institutional investors.

Insider Activity at Unum Group

In other news, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $69.56, for a total value of $104,340.00. Following the completion of the sale, the chief accounting officer now directly owns 8,361 shares in the company, valued at approximately $581,591.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $69.56, for a total transaction of $104,340.00. Following the completion of the sale, the chief accounting officer now owns 8,361 shares of the company’s stock, valued at $581,591.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard P. Mckenney sold 67,795 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $54.98, for a total transaction of $3,727,369.10. Following the completion of the transaction, the chief executive officer now directly owns 1,065,868 shares in the company, valued at $58,601,422.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,545 shares of company stock valued at $4,380,074 over the last three months. 0.93% of the stock is owned by insiders.

Unum Group declared that its Board of Directors has initiated a stock buyback program on Tuesday, July 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 10% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Unum Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 25th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.37%. Unum Group’s dividend payout ratio (DPR) is 18.18%.

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.