Allspring Global Investments Holdings LLC Has $51.31 Million Stock Position in Unum Group $UNM

Allspring Global Investments Holdings LLC decreased its stake in shares of Unum Group (NYSE:UNM) by 8.7% during the third quarter, HoldingsChannel.com reports. The fund owned 655,566 shares of the financial services provider’s stock after selling 62,624 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Unum Group were worth $51,305,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Quintet Private Bank Europe S.A. acquired a new stake in Unum Group during the second quarter worth about $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of Unum Group in the second quarter valued at approximately $30,000. Atwood & Palmer Inc. boosted its stake in shares of Unum Group by 100.0% in the 2nd quarter. Atwood & Palmer Inc. now owns 400 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 200 shares during the last quarter. Vermillion & White Wealth Management Group LLC increased its holdings in Unum Group by 44.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 537 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 164 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its stake in Unum Group by 1,123.4% during the 2nd quarter. Hantz Financial Services Inc. now owns 575 shares of the financial services provider’s stock worth $46,000 after buying an additional 528 shares during the period. 86.57% of the stock is currently owned by institutional investors.

Unum Group Stock Performance

Shares of UNM opened at $77.54 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average of $76.41 and a 200 day moving average of $76.00. Unum Group has a 12 month low of $66.81 and a 12 month high of $84.48. The company has a market capitalization of $12.97 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 1.52 and a beta of 0.20.

Unum Group (NYSE:UNM) last posted its earnings results on Monday, November 3rd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.06). The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Unum Group had a return on equity of 13.09% and a net margin of 6.99%.The company’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.13 EPS. As a group, sell-side analysts forecast that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 24th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, October 24th. Unum Group’s dividend payout ratio (DPR) is presently 35.87%.

Unum Group announced that its Board of Directors has initiated a share buyback program on Thursday, December 4th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts recently commented on UNM shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Unum Group in a research report on Monday. Evercore ISI increased their price target on shares of Unum Group from $96.00 to $99.00 and gave the company an “outperform” rating in a research note on Wednesday, November 5th. Barclays lifted their price objective on shares of Unum Group from $92.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their target price on shares of Unum Group from $94.00 to $92.00 and set a “neutral” rating on the stock in a report on Tuesday, November 4th. Finally, Citigroup reaffirmed a “market perform” rating on shares of Unum Group in a report on Thursday, December 18th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $94.91.

Insider Buying and Selling

In other news, EVP Christopher W. Pyne sold 4,000 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $78.04, for a total transaction of $312,160.00. Following the completion of the transaction, the executive vice president directly owned 51,372 shares of the company’s stock, valued at approximately $4,009,070.88. This represents a 7.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Steven Andrew Zabel sold 7,500 shares of Unum Group stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $76.38, for a total transaction of $572,850.00. Following the completion of the sale, the executive vice president owned 113,807 shares in the company, valued at approximately $8,692,578.66. This trade represents a 6.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,400 shares of company stock valued at $951,160 over the last three months. 0.92% of the stock is owned by company insiders.

Unum Group Profile

Unum Group (NYSE: UNM) is a leading provider of employee benefits in the United States and selected international markets, specializing in disability, life, accident and critical illness insurance. Through both fully insured and self-funded arrangements, the company offers group coverage designed to protect income and mitigate financial hardship for employees and their families. Its portfolio includes short-term and long-term disability plans, group life and accidental death & dismemberment (AD&D) policies, as well as critical illness and hospital indemnity products.

In addition to its core product lines, Unum Group markets voluntary benefits under its Colonial Life brand, allowing employees to purchase supplemental insurance such as accident, cancer, and dental coverage directly through payroll deductions.