Unum Group (NYSE:UNM) Announces Earnings Results, Beats Expectations By $0.04 EPS

by · The Markets Daily

Unum Group (NYSE:UNM – Get Free Report) announced its earnings results on Tuesday. The financial services provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.16 by $0.04, FiscalAI reports. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $2.91 billion. Unum Group had a net margin of 5.26% and a return on equity of 12.60%.

Unum Group Stock Up 0.0%

Shares of NYSE UNM traded up $0.02 during mid-day trading on Tuesday, hitting $91.04. The company had a trading volume of 2,151,632 shares, compared to its average volume of 1,555,648. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.35. The firm has a 50-day simple moving average of $92.26 and a two-hundred day simple moving average of $84.01. The company has a market capitalization of $14.41 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 0.88 and a beta of 0.25. Unum Group has a one year low of $69.02 and a one year high of $96.77.

Unum Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, October 30th will be paid a $0.5050 dividend. This represents a $2.02 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, October 30th. Unum Group’s payout ratio is presently 47.09%.

Unum Group declared that its board has approved a share buyback program on Wednesday, August 26th that allows the company to repurchase $1 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity at Unum Group

In other Unum Group news, CAO Lynn Jr sold 2,188 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $94.31, for a total value of $206,350.28. Following the completion of the transaction, the chief accounting officer directly owned 8,154 shares in the company, valued at $769,003.74. This trade represents a 21.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy F. Keaney sold 4,300 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $94.02, for a total value of $404,286.00. Following the sale, the director owned 36,502 shares in the company, valued at approximately $3,431,918.04. This represents a 10.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 10,488 shares of company stock valued at $988,396. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Unum Group from $101.00 to $98.00 and set a “neutral” rating for the company in a report on Monday, August 3rd. Atlantic Securities set a $88.00 price objective on shares of Unum Group in a report on Wednesday, July 15th. Evercore reaffirmed an “outperform” rating and issued a $106.00 price objective on shares of Unum Group in a research report on Tuesday, July 7th. Jefferies Financial Group upped their target price on shares of Unum Group from $117.00 to $123.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Finally, Wolfe Research lowered their target price on Unum Group from $102.00 to $100.00 and set an “outperform” rating for the company in a report on Monday, July 6th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $99.42.

Get Our Latest Stock Analysis on Unum Group

About Unum Group

(Get Free Report)

Unum Group is an insurance company that provides employee benefits and related protection products through employers, as well as selected individual policies. Its offerings are designed to help people manage the financial impact of illness, injury, death and other unexpected events.

The company’s products include short-term and long-term disability insurance, group and individual life insurance, accidental death and dismemberment coverage, and supplemental health benefits such as accident, critical illness and hospital indemnity insurance.

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