Unum Stock Price, News & Analysis

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.

Unum Group (NYSE: UNM) has announced a quarterly dividend of $0.420 per share on its common stock, as declared by its Board of Directors on July 12, 2024.

The dividend is scheduled to be paid on August 16, 2024, to shareholders who are on record as of July 26, 2024. This reflects Unum Group's continued commitment to returning value to its shareholders.

Unum Group (NYSE: UNM) announced the sale of its Medical Stop Loss business to Amynta Group, a leading insurance services provider. The Stop Loss Business will operate under Amynta Risk Solutions as a full-service managing general underwriter. The acquisition allows Unum to focus on its core enterprise priorities, while Amynta plans to invest in the business to foster growth and innovation. The financial terms of the deal were not disclosed, and the transaction is expected to close in Q3 2024 after customary conditions are met. Piper Sandler & Co. and Faegre Drinker Biddle & Reath LLP advised Unum on the deal.

Unum Group (NYSE: UNM) announced it will release its second quarter 2024 results on July 30, 2024, at 4:15 p.m. ET. These results will be accessible on the company's investor website. Following the release, Unum's senior management will host a conference call on July 31, 2024, at 8:00 a.m. ET to discuss the operational results of the second quarter. Key points of interest in the call will likely include financial performance, earnings, and other relevant metrics impacting shareholders. Investors can access the call details through the company's website.