Unum Group (NYSE:UNM) Issues FY24 Earnings Guidance

Unum Group (NYSE:UNM) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $8.20-8.35 for the period, compared to the consensus EPS estimate of $8.16. Unum Group also updated its FY 2024 guidance to 8.200-8.350 EPS.

Unum Group Stock Down 0.6 %

Shares of UNM stock traded down $0.32 during trading hours on Tuesday, hitting $50.69. 1,462,433 shares of the company were exchanged, compared to its average volume of 1,389,633. The stock has a market capitalization of $9.73 billion, a price-to-earnings ratio of 7.86, a P/E/G ratio of 1.02 and a beta of 0.87. Unum Group has a one year low of $40.04 and a one year high of $54.57. The business’s 50-day simple moving average is $51.38 and its two-hundred day simple moving average is $47.66. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.27 and a current ratio of 0.27.

Unum Group (NYSE:UNM) last announced its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $1.79 EPS for the quarter, missing the consensus estimate of $1.86 by ($0.07). Unum Group had a net margin of 10.36% and a return on equity of 16.03%. The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the business posted $1.43 EPS. Unum Group’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sell-side analysts predict that Unum Group will post 8.18 EPS for the current fiscal year.

Unum Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, April 26th will be issued a $0.365 dividend. This represents a $1.46 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Thursday, April 25th. Unum Group’s dividend payout ratio (DPR) is presently 22.50%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on UNM. JPMorgan Chase & Co. increased their price objective on shares of Unum Group from $56.00 to $58.00 and gave the company an overweight rating in a report on Tuesday, April 2nd. StockNews.com upgraded shares of Unum Group from a hold rating to a buy rating in a report on Wednesday, January 31st. The Goldman Sachs Group raised their target price on shares of Unum Group from $47.00 to $52.00 and gave the stock a neutral rating in a report on Wednesday, January 31st. Wells Fargo & Company raised their target price on shares of Unum Group from $64.00 to $66.00 and gave the stock an overweight rating in a report on Thursday, April 11th. Finally, Morgan Stanley raised their target price on shares of Unum Group from $50.00 to $52.00 and gave the stock an equal weight rating in a report on Monday, April 15th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $56.38.

Insider Activity

In other news, CFO Steven Andrew Zabel sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $51.06, for a total transaction of $510,600.00. Following the completion of the sale, the chief financial officer now directly owns 122,246 shares of the company’s stock, valued at approximately $6,241,880.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Unum Group news, CFO Steven Andrew Zabel sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $51.06, for a total transaction of $510,600.00. Following the transaction, the chief financial officer now directly owns 122,246 shares in the company, valued at $6,241,880.76. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 value of $250,000.00. Following the transaction, the executive vice president now directly owns 55,450 shares in the company, valued at approximately $2,772,500. The disclosure for this sale can be found here. Insiders have sold a total of 81,000 shares of company stock worth $4,018,100 in the last ninety days. Corporate insiders own 0.93% of the company’s stock.

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.