Elizabeth Claire Ahmed, Executive Vice President of People & Communications at Unum Group (NYSE:UNM), has sold 5,000 shares of the company's common stock. The transaction, which took place on October 31, was executed at a price of $64.16 per share, amounting to a total of $320,800.
Following this sale, Ahmed retains ownership of 58,741 shares. This figure includes 21,600 restricted stock units and 756 stock success units, which may be settled on a 1-for-1 basis in shares of common stock. The reported ownership also accounts for the acquisition of 97.143 shares through the company's employee stock purchase plan since her last disclosure.
The transaction was disclosed in a filing with the Securities and Exchange Commission, signed by J. Paul Jullienne, Attorney-in-Fact.
In other recent news, Unum Group reported a robust Q3 2024 performance, with adjusted earnings per share (EPS) of $2.13 and statutory earnings exceeding $300 million for the quarter. The company is on track to achieve an EPS growth between 10% and 15% for the year, despite a decrease in sales, particularly in Group Disability. Unum Group also announced a share repurchase plan set at approximately $1 billion for 2024, a significant increase from $250 million in 2023.
Furthermore, Unum Group anticipates an improvement in sales momentum in the upcoming fourth quarter, traditionally the company's largest sales period. Despite some bearish highlights such as a decrease in sales compared to the previous year, the company's executives expressed optimism for their operational strategies and the positive trajectory of their business.
These are among recent developments for Unum Group, which also experienced over 10% growth in its international segment and a 2.5% premium increase in Colonial Life. The company maintains a strong balance sheet with $1.4 billion in liquidity and a 12.5% return on equity. Despite current challenges, Unum Group's strong performance in the third quarter sets a positive tone as the company progresses towards the end of 2024.
InvestingPro Insights
While Elizabeth Claire Ahmed's recent sale of Unum Group (NYSE:UNM) shares might raise eyebrows, a closer look at the company's financials and market performance reveals a robust picture. According to InvestingPro data, Unum Group boasts a market capitalization of $11.7 billion and is trading at an attractive P/E ratio of 6.98, significantly lower than many of its industry peers.
InvestingPro Tips highlight that Unum has raised its dividend for 16 consecutive years, demonstrating a strong commitment to shareholder returns. This is further underscored by the company's dividend yield of 2.62% and an impressive dividend growth of 15.07% over the last twelve months.
The stock's performance has been stellar, with a 51.29% total return over the past year and a 25.96% return in the last six months. This aligns with another InvestingPro Tip indicating that Unum is trading near its 52-week high, currently at 98.63% of that mark.
For investors seeking more comprehensive analysis, InvestingPro offers 13 additional tips on Unum Group, providing a deeper understanding of the company's financial health and market position.
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