Unum Group (NYSE:UNM) Updates FY24 Earnings Guidance

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

Unum Group Price Performance

Unum Group stock traded down $0.22 during trading hours on Thursday, hitting $51.65. 1,460,822 shares of the stock were exchanged, compared to its average volume of 1,409,740. 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 $9.91 billion, a P/E ratio of 7.68, a P/E/G ratio of 1.02 and a beta of 0.87. Unum Group has a 12 month low of $41.75 and a 12 month high of $54.57. The business’s 50-day moving average is $51.47 and its two-hundred day moving average is $47.69.

Unum Group (NYSE:UNM) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.15. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Unum Group had a net margin of 10.52% and a return on equity of 16.32%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.87 earnings per share. Equities research analysts expect that Unum Group will post 8.18 EPS for the current fiscal year.

Unum Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, April 26th will be issued a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Thursday, April 25th. Unum Group’s dividend payout ratio is currently 21.69%.

Wall Street Analysts Forecast Growth

UNM has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price target 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. Morgan Stanley raised 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. The Goldman Sachs Group raised their price target on shares of Unum Group from $47.00 to $52.00 and gave the company a neutral rating in a report on Wednesday, January 31st. StockNews.com raised shares of Unum Group from a hold rating to a buy rating in a report on Wednesday, January 31st. Finally, Truist Financial raised their price objective on shares of Unum Group from $57.00 to $62.00 and gave the company a buy rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and six 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 $57.38.

Insider Buying and Selling at Unum Group

In other Unum Group news, CEO Richard P. Mckenney sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $49.15, for a total value of $2,457,500.00. Following the transaction, the chief executive officer now directly owns 1,076,753 shares of the company’s stock, valued at $52,922,409.95. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Richard P. Mckenney sold 50,000 shares of Unum Group stock in a transaction on Friday, March 1st. The shares were 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 directly owns 1,076,753 shares of the company’s stock, valued at $52,922,409.95. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Steven Andrew Zabel sold 10,000 shares of Unum Group stock in a transaction on 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,000 shares of company stock valued at $4,018,100. 0.93% of the stock is currently owned by insiders.

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.