Brokers Offer Predictions for Unum Group’s Q1 2024 Earnings (NYSE:UNM)

Unum Group (NYSE:UNMFree Report) – Equities research analysts at DOWLING & PARTN raised their Q1 2024 earnings estimates for shares of Unum Group in a research report issued on Tuesday, February 6th. DOWLING & PARTN analyst J. Hurwitz now forecasts that the financial services provider will earn $1.97 per share for the quarter, up from their prior forecast of $1.95. The consensus estimate for Unum Group’s current full-year earnings is $8.24 per share. DOWLING & PARTN also issued estimates for Unum Group’s Q2 2024 earnings at $2.05 EPS, Q3 2024 earnings at $2.08 EPS, Q4 2024 earnings at $2.11 EPS, FY2024 earnings at $8.20 EPS, Q1 2025 earnings at $2.15 EPS, Q2 2025 earnings at $2.24 EPS, Q3 2025 earnings at $2.27 EPS, FY2025 earnings at $8.95 EPS and FY2026 earnings at $9.90 EPS.

Unum Group (NYSE:UNMGet Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.07). The company had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.14 billion. Unum Group had a return on equity of 16.03% and a net margin of 10.36%. Unum Group’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $1.43 EPS.

Several other research firms have also commented on UNM. Morgan Stanley decreased their target price on shares of Unum Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 15th. The Goldman Sachs Group boosted their price objective on shares of Unum Group from $47.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, January 31st. StockNews.com raised Unum Group from a “hold” rating to a “buy” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. raised Unum Group from a “neutral” rating to an “overweight” rating and set a $55.00 price target for the company in a report on Wednesday, January 3rd. Finally, Truist Financial lowered their price target on Unum Group from $59.00 to $54.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.44.

Check Out Our Latest Analysis on Unum Group

Unum Group Stock Up 0.1 %

UNM stock opened at $47.33 on Thursday. The company has a market cap of $9.23 billion, a PE ratio of 7.29, a price-to-earnings-growth ratio of 0.72 and a beta of 0.87. The company has a quick ratio of 0.29, a current ratio of 0.27 and a debt-to-equity ratio of 0.36. Unum Group has a 52 week low of $36.27 and a 52 week high of $52.15. The business has a 50-day simple moving average of $45.49 and a 200 day simple moving average of $46.93.

Unum Group announced that its board has approved a stock repurchase program on Tuesday, October 31st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the financial services provider to repurchase up to 5.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Unum Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 16th. Shareholders of record on Friday, January 26th will be given a $0.365 dividend. The ex-dividend date is Thursday, January 25th. This represents a $1.46 annualized dividend and a yield of 3.08%. Unum Group’s dividend payout ratio is presently 22.50%.

Insider Buying and Selling at Unum Group

In other Unum Group news, EVP Puneet Bhasin sold 8,188 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $42.39, for a total value of $347,089.32. Following the completion of the transaction, the executive vice president now directly owns 54,318 shares in the company, valued at $2,302,540.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.94% of the company’s stock.

Hedge Funds Weigh In On Unum Group

Several large investors have recently modified their holdings of UNM. MBM Wealth Consultants LLC increased its holdings in shares of Unum Group by 3.9% during the third quarter. MBM Wealth Consultants LLC now owns 5,938 shares of the financial services provider’s stock valued at $297,000 after acquiring an additional 223 shares in the last quarter. Caprock Group LLC increased its position in shares of Unum Group by 3.0% during the fourth quarter. Caprock Group LLC now owns 8,004 shares of the financial services provider’s stock worth $362,000 after acquiring an additional 230 shares in the last quarter. United Services Automobile Association increased its position in shares of Unum Group by 1.9% during the third quarter. United Services Automobile Association now owns 12,530 shares of the financial services provider’s stock worth $616,000 after acquiring an additional 239 shares in the last quarter. Kestra Advisory Services LLC increased its position in shares of Unum Group by 2.5% during the second quarter. Kestra Advisory Services LLC now owns 9,997 shares of the financial services provider’s stock worth $477,000 after acquiring an additional 244 shares in the last quarter. Finally, SummerHaven Investment Management LLC increased its position in shares of Unum Group by 1.7% during the fourth quarter. SummerHaven Investment Management LLC now owns 15,373 shares of the financial services provider’s stock worth $695,000 after acquiring an additional 251 shares in the last quarter. Institutional investors own 79.37% of the company’s stock.

About Unum Group

(Get Free Report)

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 and Corporate segments. 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.

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Earnings History and Estimates for Unum Group (NYSE:UNM)

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