Zacks Research Boosts Earnings Estimates for Unum Group

Unum Group (NYSE:UNM) – Stock analysts at Zacks Research upped their FY2024 earnings per share (EPS) estimates for Unum Group in a note issued to investors 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 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 posted its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.10 by $0.03. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. Unum Group’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.94 EPS.

UNM has been the subject of several other research reports. JPMorgan Chase & Co. decreased their price target on Unum Group from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Evercore ISI upgraded shares of Unum Group from an “in-line” rating to an “outperform” rating and increased their target price for the company from $67.00 to $84.00 in a research report on Thursday. Barclays boosted their price target on shares of Unum Group from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $66.00 price objective (up from $64.00) on shares of Unum Group in a report on Friday, September 27th. Finally, Wells Fargo & Company boosted their target price on Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Unum Group has a consensus rating of “Moderate Buy” and a consensus price target of $67.73.

Unum Group Stock Performance

Shares of UNM stock opened at $72.26 on Thursday. The business has a 50 day simple moving average of $61.20 and a 200 day simple moving average of $55.62. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market capitalization of $13.20 billion, a price-to-earnings ratio of 7.82, a price-to-earnings-growth ratio of 1.05 and a beta of 0.76. Unum Group has a 12-month low of $41.86 and a 12-month high of $72.96.

Unum Group Dividend Announcement

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

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

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 transaction of $3,727,369.10. Following the transaction, the chief executive officer now directly owns 1,065,868 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,545 shares of company stock valued at $4,380,074 over the last three months. 0.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Unum Group

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

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.