In a recent transaction, Gloria Larson, a director at Unum Group (NYSE:UNM), sold 10,000 shares of the company's common stock. The shares were sold at a price of $74.50 each, totaling $745,000. Following the sale, Larson holds 121,491 shares directly. This figure includes 52,274 deferred share rights, 41,329 restricted stock units, and 27,888 shares of common stock. These transactions reflect Larson's ongoing adjustments to her stock portfolio in the company.
In other recent news, Unum Group has been making strides in the insurance industry. Piper Sandler reaffirmed its Overweight rating on Unum Group, citing long-term care assumptions, favorable claims trends, and technological advancements as key factors. The firm's analysts believe that these elements will contribute to Unum's financial performance.
Unum Group reported strong financial performance for Q3 2024, with adjusted earnings per share (EPS) reaching $2.13 and statutory earnings exceeding $300 million for the quarter. The company's robust balance sheet shows $1.4 billion in liquidity and a 12.5% return on equity. Premium growth in core operations stood at 4.6% for the quarter, with Group Disability and Life insurance showing solid performance and benefit ratios under 70%.
The company also announced a share repurchase plan set at approximately $1 billion for 2024. Unum Group is projected to achieve an EPS growth between 10% and 15% for the year, exceeding initial expectations despite a decrease in sales. These recent developments highlight Unum Group's strong financial position and proactive approach to business development.
InvestingPro Insights
As Gloria Larson adjusts her stock portfolio in Unum Group, investors may find additional context in the company's recent performance and valuation metrics. According to InvestingPro data, Unum Group's market capitalization stands at $13.87 billion, with the stock trading near its 52-week high. The company's P/E ratio of 8.24 suggests a potentially undervalued position relative to its earnings.
Unum Group has demonstrated strong financial performance, with a revenue of $12.8 billion in the last twelve months as of Q3 2023, representing a 4.49% growth. The company's profitability is evident in its 37.67% gross profit margin and 19.13% operating income margin for the same period.
InvestingPro Tips highlight Unum's commitment to shareholder returns, noting that the company has raised its dividend for 16 consecutive years and maintained dividend payments for 38 years. This consistency in dividend growth, coupled with a current dividend yield of 2.22%, may appeal to income-focused investors.
The stock's recent performance has been particularly impressive, with a 72.71% year-to-date price total return and an 82.78% return over the past year. This strong momentum is further supported by analysts revising their earnings expectations upward for the upcoming period, as indicated by another InvestingPro Tip.
For investors seeking a more comprehensive analysis, InvestingPro offers 13 additional tips on Unum Group, providing a deeper dive into the company's financial health and market position.
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