PNC Financial Services Group Inc. Has $2.20 Million Stock Holdings in Unum Group (NYSE:UNM)

PNC Financial Services Group Inc. grew its position in Unum Group (NYSE:UNM) by 7.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,176 shares of the financial services provider’s stock after purchasing an additional 2,072 shares during the period. PNC Financial Services Group Inc.’s holdings in Unum Group were worth $2,204,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of UNM. Allianz Asset Management GmbH raised its holdings in Unum Group by 44.9% in the fourth quarter. Allianz Asset Management GmbH now owns 1,264,994 shares of the financial services provider’s stock worth $92,383,000 after purchasing an additional 392,191 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in Unum Group by 151.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 509,702 shares of the financial services provider’s stock worth $30,297,000 after purchasing an additional 307,175 shares during the period. Victory Capital Management Inc. raised its holdings in Unum Group by 23.3% in the fourth quarter. Victory Capital Management Inc. now owns 1,462,917 shares of the financial services provider’s stock worth $106,837,000 after purchasing an additional 276,655 shares during the period. Raymond James Financial Inc. acquired a new stake in Unum Group in the fourth quarter worth $19,617,000. Finally, Proficio Capital Partners LLC acquired a new stake in Unum Group in the fourth quarter worth $11,456,000. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Unum Group

In related news, CEO Richard P. Mckenney sold 50,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $81.99, for a total value of $4,099,500.00. Following the transaction, the chief executive officer now owns 980,637 shares in the company, valued at approximately $80,402,427.63. This represents a 4.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa G. Iglesias sold 7,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $82.75, for a total transaction of $579,250.00. Following the completion of the transaction, the executive vice president now owns 31,284 shares in the company, valued at approximately $2,588,751. This trade represents a 18.28 % decrease in their position. The disclosure for this sale can be found here. 0.93% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Unum Group from $90.00 to $103.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Raymond James upgraded shares of Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 price objective on the stock in a report on Wednesday, March 5th. Piper Sandler raised their price objective on shares of Unum Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. StockNews.com lowered shares of Unum Group from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Finally, BMO Capital Markets raised their price objective on shares of Unum Group from $95.00 to $102.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.62.

Unum Group Stock Up 2.4 %

Unum Group stock opened at $78.99 on Friday. The firm has a market capitalization of $13.96 billion, a PE ratio of 8.34, a P/E/G ratio of 1.14 and a beta of 0.74. The company’s 50-day moving average is $75.96 and its 200-day moving average is $69.18. Unum Group has a fifty-two week low of $48.38 and a fifty-two week high of $83.96. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.28.

Unum Group (NYSE:UNM) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.11). Unum Group had a return on equity of 14.91% and a net margin of 13.81%. Sell-side analysts anticipate that Unum Group will post 9.14 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 company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.68 annualized dividend and a dividend yield of 2.13%. Unum Group’s dividend payout ratio is presently 17.74%.

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.