Allspring Global Investments Holdings LLC Purchases 23,255 Shares of Unum Group (NYSE:UNM)

Allspring Global Investments Holdings LLC grew its holdings in Unum Group (NYSE:UNM - Free Report) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 312,913 shares of the financial services provider's stock after purchasing an additional 23,255 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.17% of Unum Group worth $22,828,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Summit Trail Advisors LLC increased its stake in shares of Unum Group by 47.3% in the fourth quarter. Summit Trail Advisors LLC now owns 8,094 shares of the financial services provider's stock worth $591,000 after acquiring an additional 2,600 shares during the last quarter. Savant Capital LLC increased its position in Unum Group by 1.0% during the fourth quarter. Savant Capital LLC now owns 46,344 shares of the financial services provider's stock worth $3,385,000 after buying an additional 476 shares during the last quarter. Forbes J M & Co. LLP acquired a new position in Unum Group during the fourth quarter worth $389,000. Vest Financial LLC increased its position in Unum Group by 30.4% during the fourth quarter. Vest Financial LLC now owns 34,103 shares of the financial services provider's stock worth $2,491,000 after buying an additional 7,944 shares during the last quarter. Finally, Barrett & Company Inc. increased its position in Unum Group by 300.0% during the fourth quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider's stock worth $29,000 after buying an additional 297 shares during the last quarter. 86.57% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Unum Group

In other news, CEO Richard P. Mckenney sold 58,865 shares of the business's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $75.39, for a total transaction of $4,437,832.35. Following the transaction, the chief executive officer now directly owns 1,007,003 shares in the company, valued at $75,917,956.17. The trade was a 5.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gloria C. Larson sold 10,000 shares of the business's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $74.50, for a total transaction of $745,000.00. Following the transaction, the director now owns 121,491 shares in the company, valued at $9,051,079.50. This represents a 7.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,865 shares of company stock valued at $5,952,032. 0.93% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their price target on Unum Group from $62.00 to $64.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Piper Sandler increased their target price on shares of Unum Group from $82.00 to $87.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $79.00 target price (up previously from $74.00) on shares of Unum Group in a research note on Tuesday, January 7th. Truist Financial increased their target price on shares of Unum Group from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group increased their target price on shares of Unum Group from $91.00 to $96.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Unum Group presently has an average rating of "Moderate Buy" and a consensus price target of $81.17.

Unum Group Price Performance

Shares of Unum Group stock traded up $0.97 during midday trading on Wednesday, reaching $74.99. The company had a trading volume of 1,311,738 shares, compared to its average volume of 1,127,088. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $13.69 billion, a price-to-earnings ratio of 7.92, a price-to-earnings-growth ratio of 1.13 and a beta of 0.80. The stock has a fifty day simple moving average of $74.19 and a 200 day simple moving average of $66.35. Unum Group has a 1-year low of $48.38 and a 1-year high of $79.43.

Unum Group (NYSE:UNM - Get Free Report) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.03 EPS for the quarter, missing analysts' consensus estimates of $2.14 by ($0.11). Unum Group had a return on equity of 14.91% and a net margin of 13.81%. As a group, equities research analysts forecast that Unum Group will post 9.15 earnings per share for the current year.

Unum Group declared that its Board of Directors has approved a share buyback plan on Tuesday, February 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.

Unum Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were given a $0.42 dividend. The ex-dividend date was Friday, January 24th. This represents a $1.68 annualized dividend and a yield of 2.24%. Unum Group's dividend payout ratio is currently 17.74%.

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.