FY2024 EPS Estimates for Unum Group Lifted by Zacks Research

Unum Group (NYSE:UNM) – Analysts at Zacks Research lifted their FY2024 earnings estimates for shares of Unum Group in a report released on Tuesday, November 12th. Zacks Research analyst D. Chatterjee now forecasts that the financial services provider will post earnings per share of $8.49 for the year, up from their prior forecast of $8.46. The consensus estimate for Unum Group’s current full-year earnings is $8.53 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 posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 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 firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the firm posted $1.94 earnings per share. Unum Group’s revenue for the quarter was up 4.0% compared to the same quarter last year.

Other analysts also recently issued research reports about the stock. Truist Financial increased their price objective on shares of Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Evercore ISI raised shares of Unum Group from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $67.00 to $84.00 in a research note on Thursday. Morgan Stanley upped their price objective on shares of Unum Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $66.00 target price (up from $64.00) on shares of Unum Group in a research report on Friday, September 27th. Finally, Barclays increased their price target on Unum Group from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.73.

Unum Group Price Performance

UNM stock opened at $73.20 on Thursday. The firm has a market cap of $13.37 billion, a P/E ratio of 7.92, a price-to-earnings-growth ratio of 1.04 and a beta of 0.76. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.28. Unum Group has a 1 year low of $41.86 and a 1 year high of $73.24. The stock has a 50-day simple moving average of $61.92 and a 200-day simple moving average of $55.89.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of UNM. Versant Capital Management Inc lifted its holdings in shares of Unum Group by 361.5% in the second quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock valued at $26,000 after buying an additional 394 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Unum Group during the 2nd quarter valued at $26,000. 1620 Investment Advisors Inc. bought a new stake in shares of Unum Group during the 2nd quarter worth $29,000. Capital Performance Advisors LLP acquired a new position in shares of Unum Group in the 3rd quarter worth $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Unum Group during the third quarter valued at $37,000. Institutional investors own 86.57% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Elizabeth Claire Ahmed sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $64.16, for a total value of $320,800.00. Following the sale, the executive vice president now owns 58,741 shares of the company’s stock, valued at approximately $3,768,822.56. This trade represents a 7.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Hanley Ronald P. O sold 14,299 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $72.10, for a total value of $1,030,957.90. Following the transaction, the director now owns 38,819 shares of the company’s stock, valued at approximately $2,798,849.90. The trade was a 26.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,844 shares of company stock valued at $5,411,032 over the last 90 days. 0.93% of the stock is owned by company insiders.

Unum Group announced that its Board of Directors has approved a stock buyback plan on Tuesday, July 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 10% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Unum Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 25th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.30%. The ex-dividend date was Friday, October 25th. Unum Group’s dividend payout ratio (DPR) is presently 18.18%.

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.