Unum Group (NYSE:UNM) Issues FY 2024 Earnings Guidance

Unum Group (NYSE:UNM) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 8.200-8.350 for the period, compared to the consensus EPS estimate of 8.160. The company issued revenue guidance of -. Unum Group also updated its FY24 guidance to $8.20-8.35 EPS.

Unum Group Stock Down 0.6 %

Unum Group stock traded down $0.32 during mid-day trading on Tuesday, hitting $50.69. The company’s stock had a trading volume of 1,462,433 shares, compared to its average volume of 1,389,633. The firm’s 50 day moving average is $51.41 and its 200 day moving average is $47.66. The company has a market cap of $9.73 billion, a PE ratio of 7.81, a price-to-earnings-growth ratio of 1.02 and a beta of 0.87. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.27 and a quick ratio of 0.27. Unum Group has a 52-week low of $40.04 and a 52-week high of $54.57.

Unum Group (NYSE:UNM) last announced its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.86 by ($0.07). The business had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Unum Group had a return on equity of 16.03% and a net margin of 10.36%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.43 earnings per share. On average, analysts anticipate that Unum Group will post 8.18 earnings per share for the current year.

Unum Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, April 26th will be given a $0.365 dividend. This represents a $1.46 annualized dividend and a yield of 2.88%. The ex-dividend date is Thursday, April 25th. Unum Group’s payout ratio is currently 22.50%.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, CEO Richard P. Mckenney sold 50,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $49.15, for a total transaction of $2,457,500.00. Following the completion of the sale, the chief executive officer now owns 1,076,753 shares in the company, valued at approximately $52,922,409.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Steven Andrew Zabel sold 10,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 122,246 shares in the company, valued at approximately $6,241,880.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Richard P. Mckenney sold 50,000 shares of the 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 sale, the chief executive officer now owns 1,076,753 shares of the company’s stock, valued at approximately $52,922,409.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 81,000 shares of company stock valued at $4,018,100. 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.