Q3 2024 Earnings Estimate for Unum Group (NYSE:UNM) Issued By Zacks Research

Unum Group (NYSE:UNM) – Analysts at Zacks Research increased their Q3 2024 EPS estimates for Unum Group in a research report issued to clients and investors on Thursday, September 12th. Zacks Research analyst D. Chatterjee now forecasts that the financial services provider will post earnings per share of $2.08 for the quarter, up from their prior estimate of $2.05. The consensus estimate for Unum Group’s current full-year earnings is $8.50 per share. Zacks Research also issued estimates for Unum Group’s Q4 2024 earnings at $2.10 EPS and FY2024 earnings at $8.46 EPS.

Unum Group (NYSE:UNM) last issued its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.14. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.06 earnings per share.

Several other analysts also recently commented on the stock. Piper Sandler initiated coverage on shares of Unum Group in a report on Thursday, July 11th. They set an “overweight” rating and a $57.00 target price on the stock. Truist Financial raised their price objective on shares of Unum Group from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company upped their target price on shares of Unum Group from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. lifted their price target on Unum Group from $64.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group boosted their price target on Unum Group from $63.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $62.90.

Unum Group Price Performance

UNM opened at $56.40 on Monday. The stock has a market cap of $10.68 billion, a P/E ratio of 8.38, a P/E/G ratio of 0.80 and a beta of 0.77. Unum Group has a 12 month low of $41.75 and a 12 month high of $58.17. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.33. The company has a fifty day simple moving average of $54.14 and a 200 day simple moving average of $52.54.

Unum Group announced that its board has initiated a share buyback plan on Tuesday, July 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 10% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Unum Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, July 26th were paid a $0.42 dividend. The ex-dividend date was Friday, July 26th. This is a boost from Unum Group’s previous quarterly dividend of $0.37. This represents a $1.68 annualized dividend and a dividend yield of 2.98%. Unum Group’s dividend payout ratio (DPR) is currently 24.96%.

Insider Buying and Selling

In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total value of $541,100.00. Following the completion of the sale, the executive vice president now owns 64,821 shares in the company, valued at $3,507,464.31. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Richard P. Mckenney sold 67,795 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 1,065,868 shares of the company’s stock, valued at approximately $58,601,422.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total value of $541,100.00. Following the sale, the executive vice president now directly owns 64,821 shares of the company’s stock, valued at approximately $3,507,464.31. The disclosure for this sale can be found here. 0.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Unum Group

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Unum Group by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 20,590,655 shares of the financial services provider’s stock valued at $931,109,000 after acquiring an additional 300,840 shares during the period. Norges Bank bought a new position in shares of Unum Group during the fourth quarter worth approximately $590,489,000. Nordea Investment Management AB lifted its holdings in Unum Group by 51.7% during the 1st quarter. Nordea Investment Management AB now owns 2,961,539 shares of the financial services provider’s stock worth $158,590,000 after purchasing an additional 1,008,776 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Unum Group by 16.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,017,367 shares of the financial services provider’s stock valued at $91,225,000 after purchasing an additional 291,757 shares during the period. Finally, ProShare Advisors LLC grew its holdings in Unum Group by 89.8% in the 2nd quarter. ProShare Advisors LLC now owns 1,207,756 shares of the financial services provider’s stock valued at $61,728,000 after buying an additional 571,436 shares in the last quarter. 86.57% of the stock is owned by institutional investors.

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.