Allspring Global Investments Holdings LLC Sells 62,487 Shares of Unum Group (NYSE:UNM)

Allspring Global Investments Holdings LLC decreased its holdings in Unum Group (NYSE:UNM) by 17.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 289,658 shares of the financial services provider’s stock after selling 62,487 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Unum Group were worth $17,217,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of UNM. Versant Capital Management Inc increased its stake in Unum Group by 361.5% in the second quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 394 shares during the period. V Square Quantitative Management LLC purchased a new stake in Unum Group in the second quarter worth $26,000. Salomon & Ludwin LLC purchased a new stake in Unum Group in the first quarter worth $28,000. 1620 Investment Advisors Inc. purchased a new stake in Unum Group in the second quarter worth $29,000. Finally, MCF Advisors LLC purchased a new stake in Unum Group in the first quarter worth $35,000. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Unum Group Price Performance

UNM opened at $63.34 on Friday. The business’s 50-day moving average is $57.96 and its two-hundred day moving average is $54.11. Unum Group has a 1 year low of $41.75 and a 1 year high of $64.52. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market capitalization of $12.00 billion, a PE ratio of 9.41, a price-to-earnings-growth ratio of 0.93 and a beta of 0.77.

Unum Group (NYSE:UNM) last posted its earnings results on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.14. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the previous year, the firm earned $2.06 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. Research analysts anticipate that Unum Group will post 8.49 earnings per share for the current fiscal year.

Unum Group announced that its board has approved a share buyback program on Tuesday, July 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 10% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Unum Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Friday, October 25th. Unum Group’s dividend payout ratio is presently 24.96%.

Insiders Place Their Bets

In other Unum Group news, CEO Richard P. Mckenney sold 67,795 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $54.98, for a total value of $3,727,369.10. Following the completion of the sale, the chief executive officer now owns 1,065,868 shares of the company’s stock, valued at approximately $58,601,422.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $54.11, for a total value of $541,100.00. Following the completion of the sale, the executive vice president now owns 64,821 shares of the company’s stock, valued at approximately $3,507,464.31. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard P. Mckenney sold 67,795 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $54.98, for a total value of $3,727,369.10. Following the completion of the sale, the chief executive officer now directly owns 1,065,868 shares of the company’s stock, valued at approximately $58,601,422.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Piper Sandler reiterated an “overweight” rating and issued a $66.00 target price (up previously from $64.00) on shares of Unum Group in a research note on Friday, September 27th. Wells Fargo & Company raised their price target on Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Bank of America raised their price target on Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Barclays cut their price target on Unum Group from $73.00 to $72.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. cut their price target on Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $63.64.

Unum Group Company Profile

Unum Group, together with its subsidiaries, provides financial protection benefit solutions primarily in the United States, the United Kingdom, Poland, and internationally. It operates through Unum US, Unum International, Colonial Life, and Closed Block segment. The company offers group long-term and short-term disability, group life, and accidental death and dismemberment products; supplemental and voluntary products, such as individual disability, voluntary benefits, and dental and vision products; and accident, sickness, disability, life, and cancer and critical illness products.