Unum Group (UNM) Issues Quarterly Earnings Results
Unum Group (NYSE:UNM) released its quarterly earnings results on Thursday. The financial services provider reported $1.05 EPS for the quarter, topping the consensus estimate of $1.01 by $0.04, Bloomberg Earnings reports. Unum Group had a return on equity of 10.23% and a net margin of 8.54%. During the same quarter last year, the business earned $1.00 EPS.
Unum Group (UNM) traded up 0.92% during mid-day trading on Thursday, hitting $48.44. The company had a trading volume of 1,020,698 shares. The stock’s 50 day moving average price is $47.00 and its 200 day moving average price is $46.63. Unum Group has a 52-week low of $32.36 and a 52-week high of $50.27. The firm has a market cap of $11.05 billion, a P/E ratio of 11.89 and a beta of 1.55.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, July 31st will be paid a $0.23 dividend. The ex-dividend date is Thursday, July 27th. This is an increase from Unum Group’s previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.90%. Unum Group’s payout ratio is 19.61%.
Unum Group announced that its board has authorized a share buyback plan on Thursday, May 25th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 7.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
A number of research analysts have recently issued reports on the company. BidaskClub raised Unum Group from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Zacks Investment Research lowered Unum Group from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Royal Bank Of Canada reissued a “hold” rating on shares of Unum Group in a report on Wednesday, July 12th. Finally, Deutsche Bank AG boosted their target price on Unum Group from $46.00 to $48.00 and gave the company a “hold” rating in a report on Wednesday, April 19th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $45.10.
In related news, EVP Breege A. Farrell sold 15,000 shares of the firm’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 value of $682,050.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael Q. Simonds sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $46.61, for a total value of $233,050.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,260 shares of company stock worth $927,174. 0.53% of the stock is owned by insiders.
About Unum Group
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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