FY2024 EPS Estimates for Unum Group Raised by Zacks Research

Unum Group (NYSE:UNM) – Analysts at Zacks Research boosted their FY2024 EPS estimates for shares of Unum Group in a research report issued to clients and investors on Tuesday, November 12th. Zacks Research analyst D. Chatterjee now forecasts that the financial services provider will post earnings of $8.49 per share for the year, up from their previous forecast 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.

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

Several other analysts also recently issued reports on the company. Citigroup upped their price objective on Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Piper Sandler reiterated an “overweight” rating and set a $66.00 price target (up from $64.00) on shares of Unum Group in a report on Friday, September 27th. Bank of America upped their price objective on shares of Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. UBS Group raised shares of Unum Group to a “hold” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. reduced their price target on Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.73.

Unum Group Price Performance

Shares of NYSE:UNM opened at $72.26 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.28. The business’s fifty 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 $13.20 billion, a PE ratio of 7.82, a price-to-earnings-growth ratio of 1.05 and a beta of 0.76. Unum Group has a one year low of $41.86 and a one year high of $72.96.

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

Unum Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 25th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Friday, October 25th. Unum Group’s dividend payout ratio is currently 18.18%.

Insider Transactions at Unum Group

In other Unum Group news, 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 value of $3,727,369.10. Following the transaction, the chief executive officer now directly owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. This trade represents a 5.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the stock in a transaction dated Thursday, November 7th. The shares were 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 owns 8,361 shares of the company’s stock, valued at approximately $581,591.16. This trade represents a 15.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,545 shares of company stock worth $4,380,074. 0.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Unum Group

A number of hedge funds have recently bought and sold shares of the business. Quadrature Capital Ltd acquired a new stake in shares of Unum Group during the first quarter worth approximately $1,130,000. Tidal Investments LLC grew its holdings in Unum Group by 80.7% during the 1st quarter. Tidal Investments LLC now owns 64,008 shares of the financial services provider’s stock worth $3,436,000 after acquiring an additional 28,580 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of Unum Group by 8.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 872,808 shares of the financial services provider’s stock worth $44,609,000 after purchasing an additional 64,661 shares during the last quarter. Cetera Advisors LLC acquired a new stake in shares of Unum Group in the 1st quarter valued at about $703,000. Finally, Van ECK Associates Corp bought a new position in shares of Unum Group during the second quarter worth about $3,945,000. Institutional investors and hedge funds own 86.57% 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.