Allworth Financial LP Cuts Holdings in Unum Group (NYSE:UNM)

Allworth Financial LP trimmed its holdings in shares of Unum Group (NYSE:UNM) by 29.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,199 shares of the financial services provider’s stock after selling 898 shares during the quarter. Allworth Financial LP’s holdings in Unum Group were worth $131,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of UNM. Allspring Global Investments Holdings LLC grew its holdings in Unum Group by 55.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 328,063 shares of the financial services provider’s stock worth $17,604,000 after purchasing an additional 117,497 shares during the last quarter. State of Michigan Retirement System grew its holdings in Unum Group by 1.4% in the first quarter. State of Michigan Retirement System now owns 44,600 shares of the financial services provider’s stock worth $2,393,000 after purchasing an additional 600 shares during the last quarter. Norden Group LLC purchased a new position in Unum Group in the first quarter worth $1,450,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Unum Group by 54.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,514 shares of the financial services provider’s stock worth $4,150,000 after purchasing an additional 27,599 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Unum Group by 116.3% in the first quarter. BNP Paribas Financial Markets now owns 34,606 shares of the financial services provider’s stock worth $1,857,000 after purchasing an additional 18,604 shares during the last quarter. 86.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UNM has been the topic of several analyst reports. Evercore ISI lifted their price target on shares of Unum Group from $59.00 to $66.00 and gave the stock an “in-line” rating in a report on Wednesday. Barclays lifted their price target on shares of Unum Group from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday. Jefferies Financial Group lifted their price target on shares of Unum Group from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Morgan Stanley lifted their price objective on shares of Unum Group from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Citigroup lifted their price objective on shares of Unum Group from $62.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Unum Group currently has an average rating of “Moderate Buy” and an average target price of $65.64.

Unum Group Trading Down 0.3 %

NYSE UNM opened at $64.21 on Friday. The company has a market capitalization of $12.16 billion, a PE ratio of 9.54, a P/E/G ratio of 0.91 and a beta of 0.77. The company has a fifty day moving average of $58.61 and a 200 day moving average of $54.44. Unum Group has a 1 year low of $41.75 and a 1 year high of $64.91. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.28 and a quick ratio of 0.28.

Unum Group (NYSE:UNM) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.04. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.26 billion. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.94 earnings per share. Research analysts forecast that Unum Group will post 8.49 earnings per share for the current year.

Unum Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.62%. Unum Group’s dividend payout ratio (DPR) is currently 24.96%.

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

Insiders Place Their Bets

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

Unum Group 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.