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

Allspring Global Investments Holdings LLC lowered its stake in shares of Unum Group (NYSE:UNM) by 17.7% during the 3rd quarter, according to its most recent filing with the SEC. 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 owned approximately 0.15% of Unum Group worth $17,217,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Hennessy Advisors Inc. increased its position in shares of Unum Group by 44.0% during the 1st quarter. Hennessy Advisors Inc. now owns 106,000 shares of the financial services provider’s stock valued at $5,688,000 after purchasing an additional 32,400 shares during the last quarter. Artemis Investment Management LLP increased its position in shares of Unum Group by 44.2% during the 1st quarter. Artemis Investment Management LLP now owns 161,841 shares of the financial services provider’s stock valued at $8,680,000 after purchasing an additional 49,646 shares during the last quarter. MCF Advisors LLC purchased a new stake in shares of Unum Group during the 1st quarter valued at about $35,000. Aviance Capital Partners LLC increased its position in shares of Unum Group by 6.3% during the 1st quarter. Aviance Capital Partners LLC now owns 38,298 shares of the financial services provider’s stock valued at $2,055,000 after purchasing an additional 2,283 shares during the last quarter. Finally, Little House Capital LLC purchased a new stake in shares of Unum Group during the 1st quarter valued at about $1,403,000. Institutional investors own 86.57% of the company’s stock.

Wall Street Analyst Weigh In

UNM has been the subject of several research reports. Citigroup upped their price target on shares of Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Barclays reduced their target price on shares of Unum Group from $73.00 to $72.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. UBS Group raised shares of Unum Group to a “hold” rating in a report on Wednesday, October 9th. Truist Financial increased their target price on shares of Unum Group from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Bank of America increased their target price on shares of Unum Group from $54.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Unum Group presently has an average rating of “Moderate Buy” and a consensus target price of $63.64.

Insider Activity

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

Unum Group Trading Down 0.1 %

UNM stock opened at $63.34 on Friday. 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 company has a market capitalization of $12.00 billion, a price-to-earnings ratio of 9.41, a PEG ratio of 0.93 and a beta of 0.77. The business has a 50 day simple moving average of $57.96 and a two-hundred day simple moving average of $54.11.

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

Unum Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 25th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, October 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.65%. Unum Group’s dividend payout ratio is currently 24.96%.

Unum Group announced that its Board of Directors has initiated a share repurchase program on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 10% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

About Unum Group

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.