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- Unum’s book value per share for Q2 was $55.63, a significant increase from $47.06 year-over-year, and above the estimated $55.08.
- Total revenue stood at $3.23 billion, marking a 3.9% increase year-over-year, meeting the estimates.
- Premium income rose by 4.7% year-over-year to $2.63 billion, in line with expectations.
- Net investment income increased by 2.6% year-over-year to $545.1 million, surpassing the estimate of $523.9 million.
- Adjusted operating earnings per share (EPS) improved to $2.16 from $2.06 year-over-year, beating the estimate of $2.02.
- The full-year 2024 outlook for after-tax adjusted operating EPS has been raised to between 10% and 15% growth.
- President and CEO Richard P. McKenney highlighted strong performance in the Group Life business and ongoing investments in growth.
- Unum is committed to being the preferred choice for customers while returning capital to shareholders.
- Analyst ratings: 7 buys, 5 holds, and 1 sell.
Unum Group on Smartkarma
Analysts on Smartkarma are bullish on Unum Group, as highlighted in Baptista Research‘s report titled “Unum Group: Initiation of Coverage – Expansion Of Service Capabilities & 3 Critical Growth Drivers.” The report acknowledges Unum Group‘s commendable performance in the first quarter of 2024, with a notable 13.6% increase in earnings per share, reaching a record $2.12 per share. The company’s emphasis on achieving this growth through a significant $350 million in statutory earnings and a 6.6% rise in core operations premium growth has impressed analysts.
A look at Unum Group Smart Scores
Factor | Score | Magnitude |
---|---|---|
Value | 4 | |
Dividend | 3 | |
Growth | 4 | |
Resilience | 3 | |
Momentum | 3 | |
OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Unum Group, a company specializing in group disability and special risk insurance, is positioned favorably for long-term growth. With strong scores in Value, Growth, and Resilience, Unum Group demonstrates a solid foundation for continued success in the insurance industry. A high Value score indicates that the company is considered undervalued relative to its fundamentals, offering potential for investors. Additionally, a solid Growth score reflects positive expectations for the company’s future expansion and profitability.
Although Unum Group‘s Dividend, Momentum, and Resilience scores are not as high as some other factors, the company’s overall outlook remains positive. The company’s resilience score suggests a capacity to weather economic uncertainties and market fluctuations, providing stability to investors. With a diverse portfolio of offerings including disability insurance, group life insurance, and voluntary benefits, Unum Group is well-positioned to capitalize on emerging opportunities and deliver value to its shareholders over the long term.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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