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Shares of Unum Group UNM closed at $54.36 on Monday, near its 52-week high of $58.17. This proximity underscores investor confidence. It has the ingredients for further price appreciation. Technical indicators for Unum Group show that the stock is trading above its 50-day and 200-day moving averages, signaling strong upward momentum.
Earnings of UNM grew 9% in the last five years, better than the industry average of 3.8%. The accident and health insurer has a solid surprise history. It surpassed earnings estimates in three of the last four quarters and missed in one, the average beat being 2.96%.
Shares of UNM have gained 20.2% in the year-to-date period compared with the industry’s growth of 29.2%. The stock has outperformed the Zacks S&P 500 composite’s growth 13.3%.
UNM YTD Price Performance
Positive Analyst Sentiment Instills Confidence in UNM
10 of the 13 analysts covering the stock have raised estimates for 2024 while nine analysts have raised estimates for 2025 over the past 60 days. The Zacks Consensus Estimate for 2024 and 2025 increased 2.5% and 2.4%, respectively.
The consensus estimate for 2024 and 2025 earnings indicates an improvement of 10.4% and 5.3%, respectively.
Unum Group’s Return on Capital
Unum Group's return on invested capital (ROIC) in the trailing 12 months was 9.2%, better than the industry average of 7.7%. This reflects the company’s efficiency in utilizing funds to generate income.
Factors Benefiting UNM
Premiums, the primary component of UNM’s top line, continue to gain from its healthy in-force block growth and higher sales. Unum Group expects sales growth in the range of 7-10% and premium growth in the band of 5-7% in 2024. For the long term, it expects sales growth in the range of 8-12% and premium growth in the band of 4-7%.
UNM is poised to grow on the operational excellence of Unum U.S. and Colonial Life. Encouraging sales trends, strong persistency in group lines and growth of new product lines like dental and vision, coupled with favorable risk results, should benefit Unum U.S. and Colonial Life, the two largest operating segments.
Management estimates sales growth of 5-10% and premium growth of 5-7% in 2024 at Unum U.S. It expects sales growth in the range of 8-12% and premium growth in the band of 2-4% at Colonial Life for 2024.
UNM enjoys a solid capital position and substantial statutory earnings and capital, leading to financial flexibility.
UNM’s Impressive Dividend History
Unum Group has consistently enhanced shareholders’ value through dividend hikes. The board has increased the shareholder dividend by 15%, effective in the third quarter of 2024, and that places the dividend payout ratio right around 20%. It also marked the 15th dividend hike in the last 14 years. The dividend yield of the company was 3.1%, higher than the industry average of 1.9%, making it an attractive pick for yield-seeking investors. It estimates a 10-15% increase in dividend going forward.
UNM Shares Are Affordable
Unum Group is trading at a discount compared with the industry average. It presents a compelling investment opportunity with its attractive forward 12-month price-to-book ratio of 0.97X, lower than the industry average of 1.87X. Also, it has a Value Score of A.
Shares of another accident and health insurer, Employers Holdings Inc. EIG, are also trading at a discount to the industry average.
However, shares of other players from the same space, like Aflac Incorporated AFL and Trupanion, Inc. TRUP, are trading at a premium compared with the industry’s average.
Wrapping Up
Favorable sales trends and risk experience, strong persistency, an improving rate environment, solid capital position, higher return on capital and effective capital deployment should continue to favor UNM over the long term. Coupled with favorable growth estimates and the affordability of the stock, the time appears right for potential investors to bet on this Zacks Rank #2 (Buy) insurer. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Investment Research
It is not easy to find value stocks. Being aware of a company's key financial numbers like earnings per share and sales growth can help investors identify stocks that are trading for less than their worth. However, a proper analysis of the fundamentals with the help of a number of metrics is required to determine whether a stock is a good bargain or not.
Though price-to-earnings (P/E) and price-to-sales (P/S) valuation tools are more commonly used for stock selection, the price-to-book ratio (P/B ratio) is also an easy-to-use metric for identifying low-priced stocks with high-growth prospects.
The P/B ratio is calculated as below:
P/B ratio = market price per share/book value of equity per share.
The P/B ratio helps to identify low-priced stocks with high growth prospects. SSR Mining SSRM, Axis Capital Holdings AXS, Unum Group UNM, Enersys ENS and ZIM Integrated Shipping Services ZIM are some such stocks.
Now, let us understand the concept of book value.
What is Book Value?
There are several ways by which book value can be defined. Book value is the total value that would be left over, according to the company’s balance sheet, if it goes bankrupt immediately. In other words, this is what shareholders would theoretically receive if a company liquidates all its assets after paying off all its liabilities.
It is calculated by subtracting total liabilities from the total assets of a company. In most cases, this equates to common stockholders’ equity on the balance sheet. However, depending on the company’s balance sheet, intangible assets should also be subtracted from the total assets to determine book value.
Understanding P/B Ratio
By comparing the book value of equity to its market price, we get an idea of whether a company is under or overpriced. However, like P/E or P/S ratio, it is always better to compare P/B ratios within industries.
A P/B ratio of less than one means that the stock is trading at less than its book value or the stock is undervalued and, therefore, a good buy. Conversely, a stock with a ratio greater than one can be interpreted as being overvalued or relatively expensive.
For example, a stock with a P/B ratio of 2 means that we pay $2 for every $1 of book value. Thus, the higher the P/B, the more expensive the stock.
But there is a warning. A P/B ratio of less than one can also mean that the company is earning weak or even negative returns on its assets or that the assets are overstated, in which case the stock should be shunned because it may be destroying shareholder value. Conversely, the stock’s price may be significantly high — thereby pushing the P/B ratio to more than one — in the likely case that it has become a takeover target, a good enough reason to own the stock.
Moreover, the P/B ratio is not without limitations. It is useful for businesses like finance, investments, insurance and banking or manufacturing companies with many liquid/tangible assets on the books. However, it can be misleading for firms with significant R&D expenditure, high debt, service companies, or those with negative earnings.
In any case, the ratio is not particularly relevant as a standalone number. One should analyze other ratios like P/E, P/S and debt to equity before arriving at a reasonable investment decision.
Screening Parameters
Price to Book (common Equity) less than X-Industry Median: A lower P/B compared with the industry average implies that there is enough room for the stock to gain.
Price to Sales less than X-Industry Median: The P/S ratio determines how much the market values every dollar of the company’s sales/revenues — a lower ratio than the industry makes the stock attractive.
Price to Earnings using F(1) estimate less than X-Industry Median: The P/E ratio (F1) values a company based on its current share price relative to its estimated earnings per share — a lower ratio than the industry is considered better.
PEG less than 1: PEG links the P/E ratio to the future growth rate of the company. The PEG ratio portrays a more complete picture than the P/E ratio. A value of less than 1 indicates that the stock is undervalued, and investors need to pay less for a stock that has bright earnings growth prospects.
Current Price greater than or equal to $5: They must all be trading at a minimum of $5 or higher.
Average 20-Day Volume greater than or equal to 100,000: A substantial trading volume ensures that the stock is easily tradable.
Zacks Rank less than or equal to #2: Zacks Rank #1 (Strong Buy) or 2 (Buy) stocks are known to outperform irrespective of the market environment.
Value Score equal to A or B: Our research shows that stocks with a Value Score of A or B, when combined with a Zacks Rank #1 or 2, offer the best opportunities in the value investing space.
Here are five of the six stocks that qualified the screening:
Based in Vancouver, Canada, SSR Mining is a mining company focusing on the operation, development, exploration and acquisition of precious metal projects. The company primarily explores for gold, silver, and mineral properties. It principally serves electronics, coin fabrication, dentistry, jewelry, industrial, technology, pharmaceuticals and solar energy markets.
SSRM currently has a Zacks Rank #2 and a Value Score of A. Youcan see the complete list of today’s Zacks #1 Rank stocks here.
SSR Mining has a projected 3-5-year EPS growth rate of 17.69%.
AXIS Capital Holdings is the Bermuda-based holding company for the AXIS group of companies. The company provides a broad range of specialty insurance and reinsurance solutions to its clients on a worldwide basis through operating subsidiaries and branch networks based in Bermuda, the United States, Europe, Singapore, Canada, Latin America and the Middle East.
AXS presently has a Zacks Rank #2 and a Value Score of A. The company has a projected 3-5-year EPS growth rate of 27.82%.
Headquartered in Chattanooga, TN, Unum Group was created following the June 1999 merger of Provident Companies and Unum Corporation. Along with disability insurance, the company provides long-term care insurance, life insurance, employer- and employee-paid group benefits and related services.
UNM has a Zacks Rank #2 and a Value Score of A. UNM has a projected 3–5-year EPS growth rate of 8.0%.
Headquartered in Pennsylvania, EnerSys engages in manufacturing, marketing and distribution of various industrial batteries worldwide. It has a Zacks Rank #2 currently.
ENS has a Value Score of A. EnerSys has a projected 3–5-year EPS growth rate of 18.0%.
Haifa, Israel-based ZIM Integrated Shipping Services provides container shipping and related services, along with its subsidiaries. The company offers dry, reefer, project, out-of-gauge, breakbulk and dangerous cargo services, and inland transport services.
ZIM Integrated Shipping Services has a Zacks Rank #1 and a Value Score of A at present. ZIM has a projected 3-5-year EPS growth rate of 47.44%.
Get the remaining stock on the list and start putting this and other ideas to the test. It can all be done with the Research Wizard stock picking and back-testing software.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Click here to sign up for a free trial to the Research Wizard today.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
Disclosure: Performance information for Zacks’ portfolios and strategies are available at: https://www.zacks.com/performance
Zacks Investment Research
NORTHAMPTON, MA / ACCESSWIRE / September 6, 2024 / Aflac IncorporatedOriginally published on Aflac Newsroom
For 24 years, team members at 95.5 WSB in Atlanta, the Aflac Cancer and Blood Disorders Center and Aflac have poured their hearts into Care-a-Thon, an annual fundraising event benefiting the Aflac Cancer and Blood Disorders Center of Children's Healthcare of Atlanta. This year, as patients and their families shared heartwarming stories of strength and courage, radio listeners responded resoundingly by calling in pledges and donating online.
A record-breaking $2.1 million was raised for family support services, research and the Fellowship Program at the Aflac Cancer and Blood Disorders Center. In 24 years of Care-a-Thon, more than $34 million has been contributed.
"Aflac has a long-standing commitment to support children with cancer and blood disorders - and their families and health care teams. The selfless acts of kindness of the WSB team, radio listeners and volunteers, including Aflac employees and agents, extend Aflac's culture of care and inspire hope for children with cancer and blood disorders," said Ines Rodriguez Gutzmer, senior vice president and chief communications officer at Aflac. "Volunteering on the phone bank, I was humbled by the generosity of donors and saw firsthand the smiles Care-a-Thon put on the children's faces."
Aflac Chairman and CEO Dan Amos and Kathelen Amos made a special Care-a-Thon contribution that exemplifies their unwavering commitment to the cause and to making a difference in the lives of children. Listen to Dan's conversation with WSB's Scott Slade: https://vimeo.com/aflac/review/993499606/3451977edc
It's not too late to support the Aflac Cancer and Blood Disorders Center through WSB Care-a-Thon - donate online at CHOA.org/WSB. Also, learn about other ways Aflac gives back to the community at Aflac.com/AboutAflac.
Z2400768
View additional multimedia and more ESG storytelling from Aflac Incorporated on 3blmedia.com.
Contact Info: Spokesperson: Aflac Incorporated Website: https://www.3blmedia.com/profiles/aflac-incorporated Email: info@3blmedia.com
SOURCE: Aflac Incorporated
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