Unum Group (NYSE:UNM) Posts Earnings Results, Beats Estimates By $0.04 EPS

Unum Group (NYSE:UNM) issued its quarterly earnings data on Tuesday. The financial services provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.04, FiscalAI reports. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $2.91 billion. Unum Group had a return on equity of 12.60% and a net margin of 5.26%.

Unum Group Trading Up 0.0%

UNM traded up $0.02 on Tuesday, reaching $91.04. 2,151,632 shares of the company traded hands, compared to its average volume of 1,555,648. The company has a market cap of $14.41 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 0.88 and a beta of 0.25. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.35. Unum Group has a one year low of $69.02 and a one year high of $96.77. The firm has a fifty day simple moving average of $92.26 and a two-hundred day simple moving average of $84.01.

Unum Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, October 30th will be issued a dividend of $0.5050 per share. The ex-dividend date is Friday, October 30th. This represents a $2.02 dividend on an annualized basis and a yield of 2.2%. Unum Group’s dividend payout ratio (DPR) is presently 47.09%.

Wall Street Analysts Forecast Growth

UNM has been the topic of a number of recent research reports. Keefe, Bruyette & Woods decreased their price objective on Unum Group from $110.00 to $108.00 and set an “outperform” rating on the stock in a research report on Thursday, July 30th. Wolfe Research dropped 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. Barclays cut their target price on Unum Group from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 7th. Morgan Stanley increased their price target on Unum Group from $87.00 to $92.00 and gave the company an “equal weight” rating in a report on Monday, August 24th. Finally, UBS Group set a $94.00 price target on Unum Group in a research report on Tuesday, July 7th. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.42.

Unum Group announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 26th that authorizes the company to repurchase $1 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Unum Group news, EVP Lisa Iglesias sold 4,000 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $94.44, for a total value of $377,760.00. Following the transaction, the executive vice president directly owned 25,453 shares in the company, valued at $2,403,781.32. This represents a 13.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $206,350.28. Following the transaction, the chief accounting officer directly owned 8,154 shares in the company, valued at approximately $769,003.74. This trade represents a 21.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 10,488 shares of company stock worth $988,396 in the last three months. Corporate insiders own 1.00% of the company’s stock.

About Unum Group

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.