Unum Stock Price, News & Analysis

Unum Group (NYSE: UNM) has announced it will release its fourth quarter 2024 financial results on February 4, 2025, at approximately 4:15 p.m. ET. The company will make the earnings release and financial supplement available in the investors section of their website at investors.unum.com.

Following the release, Unum's senior management team will host a conference call on February 5, 2025, at 8:00 a.m. ET to discuss the Q4 operational results and provide their outlook for 2025.

Unum Group has joined The Council for Disability Income Awareness (CDIA). Through its subsidiaries Unum and Colonial Life, the company provides employee benefits and HR solutions, partnering with 174,000 companies to protect 45 million workers and their families across the United States. In 2023, Unum Group reported revenues of $12.4 billion and paid $7.9 billion in benefits. The company's Vice President of Government Affairs, Marty McGuinness, expressed enthusiasm about rejoining CDIA, emphasizing their commitment to supporting individuals with disabilities and promoting disability awareness through industry collaboration.

Unum Group (UNM) reported strong Q3 2024 results with net income of $645.7 million ($3.46 per share), compared to $202.0 million ($1.02 per share) in Q3 2023. After-tax adjusted operating income was $398.0 million ($2.13 per share). Core operations premium growth increased 4.6% on a constant currency basis. The company maintains a strong balance sheet with holding company liquidity of $1.4 billion and a weighted average risk-based capital ratio of 470%. Book value per share grew 20.4% to $59.36 year-over-year. The company completed annual GAAP reserve assumption updates, resulting in a before-tax net reserve decrease of $357.4 million.

Unum Group (NYSE: UNM) has announced a quarterly dividend of $0.420 per share on its common stock. The dividend will be paid on November 15, 2024, to stockholders of record as of October 25, 2024. This decision was made by the Unum Group Board of Directors, effective October 11, 2024. The announcement demonstrates Unum's commitment to providing regular returns to its shareholders.

Unum Group (NYSE: UNM) has announced the release date for its third quarter 2024 financial results. The company will disclose its earnings on October 29, 2024, at approximately 4:15 p.m. ET. Investors can access the earnings release and financial supplement through the company's website at https://investors.unum.com.

Following the release, Unum Group's senior management will host a conference call on October 30, 2024, at 8:00 a.m. ET to discuss the third quarter operations results. This call will provide an opportunity for stakeholders to gain insights into the company's performance and future outlook.

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of 'a+' (Excellent) for the core U.S. life/health insurance subsidiaries of Unum Group (NYSE: UNM). The outlook for these ratings is stable. The ratings reflect Unum's strong balance sheet, strong operating performance, favorable business profile, and appropriate enterprise risk management.

Key factors include Unum's strongest level of risk-adjusted capitalization, adequate liquidity, and a conservatively managed investment portfolio. The company has shown strong sales and retention strategies in its core product lines, particularly in accident & health. AM Best notes Unum's innovative capabilities in the HR space but cautions that a weakening economy could impact growth. The agency will continue to monitor Unum's closed block of long-term care business for potential balance sheet impacts.

Unum Group (NYSE: UNM) has announced its participation in the 2024 KBW Insurance Conference. President & CEO Rick McKenney and EVP and CFO Steve Zabel will represent the company at the event. They are scheduled to speak on Wednesday, September 4, 2024, at 2:50 p.m. ET.

During their presentation, McKenney and Zabel will discuss Unum's business strategy and future growth prospects. For those interested in following the event, a live audio webcast of the presentation will be available on the Investors section of Unum's website, specifically on the News and Events page at www.investors.unum.com.

Unum Group (NYSE: UNM) reported a net income of $389.5 million ($2.05 per diluted common share) for Q2 2024, compared to $392.9 million ($1.98 per diluted common share) in Q2 2023. Adjusted operating income was $411.4 million ($2.16 per diluted common share).

Key highlights include:

• Premium growth of 5.4% in core operations.
• Full-year 2024 adjusted operating earnings per share outlook increased to 10%-15%.
• Holding company liquidity of $1.3 billion and risk-based capital ratio of approximately 470%.
• New $1 billion share repurchase program effective August 1, 2024.
• Book value per common share of $55.63, an increase of 18.2% year-over-year.
• Segment highlights include growth in premium income and net investment income in Unum US, Unum International, Colonial Life, and Closed Block segments.

Unum Group (NYSE: UNM) has announced a significant $1 billion share repurchase program, authorized by its board of directors. The program is set to commence on August 1, 2024, replacing the current repurchase program, which will be terminated on July 31, 2024. This strategic move allows Unum to repurchase its common stock from time to time, with the timing and amount of repurchases to be determined by management based on market conditions and other factors.

The repurchases may be executed through various methods, including open market transactions, privately negotiated deals, accelerated share repurchase programs, or other means compliant with federal securities laws. Importantly, the board retains the flexibility to suspend, modify, or terminate the program at any time, ensuring adaptability to changing market dynamics.