$2.82 Billion in Sales Expected for Unum Group (UNM) This Quarter
Equities analysts expect that Unum Group (NYSE:UNM) will announce sales of $2.82 billion for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Unum Group’s earnings. Unum Group reported sales of $2.75 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 2.5%. The business is expected to announce its next earnings results on Wednesday, October 25th.
On average, analysts expect that Unum Group will report full year sales of $2.82 billion for the current financial year, with estimates ranging from $11.26 billion to $11.29 billion. For the next year, analysts anticipate that the company will post sales of $11.58 billion per share, with estimates ranging from $11.46 billion to $11.66 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Unum Group.
Unum Group (NYSE:UNM) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.04. The business had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.80 billion. Unum Group had a return on equity of 10.23% and a net margin of 8.57%. During the same period in the prior year, the firm posted $1.00 EPS.
UNM has been the subject of several research reports. BidaskClub upgraded shares of Unum Group from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Wells Fargo & Company reiterated a “hold” rating on shares of Unum Group in a research note on Sunday, July 30th. Zacks Investment Research upgraded shares of Unum Group from a “sell” rating to a “hold” rating and set a $56.00 price objective for the company in a research note on Monday, July 31st. Royal Bank Of Canada reiterated a “hold” rating on shares of Unum Group in a research note on Wednesday, July 12th. Finally, Deutsche Bank AG lifted their price objective on shares of Unum Group from $46.00 to $48.00 and gave the stock a “hold” rating in a research note on Wednesday, April 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $46.67.
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In related news, Director Gloria C. Larson sold 2,460 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $50.23, for a total transaction of $123,565.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Breege A. Farrell sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $45.47, for a total transaction of $682,050.00. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. increased its stake in shares of Unum Group by 1.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,434 shares of the financial services provider’s stock worth $114,000 after buying an additional 29 shares in the last quarter. Crestwood Advisors Group LLC bought a new position in Unum Group during the first quarter worth approximately $150,000. Huntington National Bank increased its position in Unum Group by 25.8% in the second quarter. Huntington National Bank now owns 3,417 shares of the financial services provider’s stock worth $160,000 after buying an additional 700 shares during the period. First Manhattan Co. increased its position in Unum Group by 23.0% in the first quarter. First Manhattan Co. now owns 5,350 shares of the financial services provider’s stock worth $188,000 after buying an additional 1,000 shares during the period. Finally, Coastline Trust Co bought a new position in Unum Group during the first quarter worth approximately $202,000. 93.89% of the stock is currently owned by institutional investors.
Unum Group (NYSE:UNM) traded down 0.39% during trading on Friday, reaching $50.60. The company had a trading volume of 700,368 shares. The stock has a 50 day moving average of $47.46 and a 200-day moving average of $46.79. The stock has a market capitalization of $11.42 billion, a P/E ratio of 12.19 and a beta of 1.56. Unum Group has a 12-month low of $32.64 and a 12-month high of $50.99.
Unum Group declared that its Board of Directors has approved a stock repurchase program on Thursday, May 25th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, July 31st will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.82%. This is a positive change from Unum Group’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, July 27th. Unum Group’s payout ratio is presently 22.17%.
Unum Group Company Profile
Unum Group is a provider of financial protection benefits in the United States and the United Kingdom. The Company’s products include disability, life, accident, critical illness, dental and vision, and other related services. Its segments include Unum US, Unum UK, Colonial Life, Closed Block and Corporate.
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