The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp increased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 18.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 241,311 shares of the financial services provider’s stock after acquiring an additional 38,136 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of The PNC Financial Services Group worth $46,537,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of The PNC Financial Services Group by 25.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock worth $7,739,000 after acquiring an additional 8,081 shares during the period. Fifth Third Wealth Advisors LLC boosted its position in shares of The PNC Financial Services Group by 48.5% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock valued at $5,160,000 after purchasing an additional 8,735 shares during the period. Mn Services Vermogensbeheer B.V. increased its position in shares of The PNC Financial Services Group by 2.0% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock worth $30,202,000 after acquiring an additional 3,100 shares in the last quarter. Root Financial Partners LLC purchased a new position in The PNC Financial Services Group during the 4th quarter worth approximately $346,000. Finally, Truist Financial Corp raised its position in The PNC Financial Services Group by 1.4% during the fourth quarter. Truist Financial Corp now owns 1,132,634 shares of the financial services provider’s stock valued at $218,429,000 after buying an additional 15,246 shares during the period. Institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $172.00, for a total transaction of $213,624.00. Following the transaction, the chief executive officer now directly owns 566,057 shares in the company, valued at approximately $97,361,804. This represents a 0.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 13,662 shares of company stock worth $2,582,789 over the last 90 days. Insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group cut their target price on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Citigroup decreased their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Monday. Piper Sandler raised their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Compass Point raised their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Morgan Stanley lifted their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and an average price target of $201.65.

The PNC Financial Services Group Stock Up 0.2 %

Shares of NYSE PNC opened at $176.84 on Wednesday. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. The firm’s 50-day simple moving average is $189.33 and its 200 day simple moving average is $192.31. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The company has a market cap of $69.98 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the business earned $3.16 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. On average, research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.62%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.