Upside Potential For Unum 2011 EPS, Deutsche Bank Reports

Deutsche Bank reports that Unum Group UNM management provided 2011 guidance during its investors day, including sales growth of 7-9%, premium growth of 0-2%, and earnings growth of 0-5%. “Our earnings growth estimate was 1%,” Deutsche Bank writes. “Including capital management, the company expects EPS growth of 6-12% vs. our estimate of 9%. The ROE for the company is projected to be 11-12%.There could be upside to 2011 EPS growth and ROE if Unum repurchase more than $500 mm of stock.” Unum currently trades at $21.82.