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

PNC Financial Services Group Inc. grew its holdings in shares of Unum Group (NYSE:UNM) by 7.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 30,176 shares of the financial services provider’s stock after acquiring an additional 2,072 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Unum Group were worth $2,204,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its position in shares of Unum Group by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,552,252 shares of the financial services provider’s stock worth $405,481,000 after purchasing an additional 51,744 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Unum Group by 23.3% during the 4th 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 in the last quarter. Allianz Asset Management GmbH grew its position in shares of Unum Group by 44.9% during the 4th 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 in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Unum Group by 151.7% during the 3rd 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 in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Unum Group by 50.0% during the 3rd quarter. Franklin Resources Inc. now owns 469,342 shares of the financial services provider’s stock worth $29,554,000 after purchasing an additional 156,380 shares in the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

Insider Buying and Selling at Unum Group

In other news, CEO Richard P. Mckenney sold 50,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the completion of the sale, the chief executive officer now directly owns 980,637 shares in the company, valued at $80,402,427.63. This represents a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lisa G. Iglesias sold 7,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $82.75, for a total transaction of $579,250.00. Following the sale, the executive vice president now owns 31,284 shares of the company’s stock, valued at approximately $2,588,751. This trade represents a 18.28 % 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 Price Performance

Shares of NYSE:UNM opened at $78.99 on Friday. The company has a market cap of $13.96 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 1.14 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.28. The firm has a 50 day simple moving average of $75.96 and a 200 day simple moving average of $69.18. Unum Group has a one year low of $48.38 and a one year high of $83.96.

Unum Group (NYSE:UNM) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. Research analysts predict that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group announced that its board has authorized a stock buyback program on Tuesday, February 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 7.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Unum Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 24th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.13%. The ex-dividend date was Friday, January 24th. Unum Group’s dividend payout ratio (DPR) is currently 17.74%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of Unum Group from $80.00 to $84.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Barclays upped their price target on shares of Unum Group from $76.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Wells Fargo & Company upped their price target on shares of Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Raymond James raised shares of Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 price target for the company in a report on Wednesday, March 5th. Finally, Keefe, Bruyette & Woods upped their price target 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. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $86.62.

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.