Unum Group (UNM) to Issue Quarterly Dividend of $0.42 on November 15th

Unum Group (NYSE:UNM) declared a quarterly dividend on Friday, October 11th, RTT News reports. Shareholders of record on Friday, October 25th will be given a dividend of 0.42 per share by the financial services provider on Friday, November 15th. This represents a $1.68 annualized dividend and a yield of 2.68%.

Unum Group has raised its dividend payment by an average of 6.8% per year over the last three years and has raised its dividend every year for the last 16 years. Unum Group has a dividend payout ratio of 18.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Unum Group to earn $8.91 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 18.9%.

Unum Group Stock Up 1.8 %

Shares of NYSE UNM opened at $62.73 on Friday. The firm’s 50-day moving average price is $56.15 and its 200-day moving average price is $53.50. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.33. Unum Group has a 12-month low of $41.75 and a 12-month high of $63.25. The stock has a market capitalization of $11.65 billion, a price-to-earnings ratio of 9.23, a P/E/G ratio of 0.91 and a beta of 0.77.

Unum Group (NYSE:UNM) last announced its earnings results on Tuesday, July 30th. The financial services provider reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.14. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the previous year, the business earned $2.06 EPS. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities research analysts anticipate that Unum Group will post 8.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Timothy Gerald Arnold sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total value of $541,100.00. Following the completion of the sale, the executive vice president now owns 64,821 shares of the company’s stock, valued at approximately $3,507,464.31. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Unum Group news, CEO Richard P. Mckenney sold 67,795 shares of Unum Group stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $54.98, for a total value of $3,727,369.10. Following the transaction, the chief executive officer now owns 1,065,868 shares in the company, valued at $58,601,422.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $54.11, for a total transaction of $541,100.00. Following the completion of the transaction, the executive vice president now owns 64,821 shares of the company’s stock, valued at $3,507,464.31. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is owned by company insiders.

Analyst Ratings Changes

UNM has been the subject of a number of recent analyst reports. Citigroup lifted their price target on shares of Unum Group from $62.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company boosted their target price on Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. reduced their price target on Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Barclays dropped their price objective on Unum Group from $73.00 to $72.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Finally, Bank of America increased their target price on Unum Group from $54.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.64.

Unum Group announced that its Board of Directors has authorized a stock buyback plan on Tuesday, July 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 10% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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.