Meiji Yasuda Asset Management Co Ltd. Buys 415 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,520 shares of the financial services provider’s stock after acquiring an additional 415 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in The PNC Financial Services Group were worth $2,607,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in The PNC Financial Services Group by 25.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock valued at $7,739,000 after purchasing an additional 8,081 shares during the period. Fifth Third Wealth Advisors LLC grew its stake in shares of The PNC Financial Services Group by 48.5% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock worth $5,160,000 after acquiring an additional 8,735 shares during the period. Mn Services Vermogensbeheer B.V. increased its holdings in The PNC Financial Services Group by 2.0% in the 4th 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 during the last quarter. Root Financial Partners LLC bought a new stake in The PNC Financial Services Group in the 4th quarter valued at about $346,000. Finally, Truist Financial Corp raised its stake in The PNC Financial Services Group by 1.4% in the 4th quarter. Truist Financial Corp now owns 1,132,634 shares of the financial services provider’s stock valued at $218,429,000 after acquiring an additional 15,246 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Citigroup reduced their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday. Truist Financial lifted their price objective on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Piper Sandler increased their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Compass Point raised their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Barclays boosted their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $201.65.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $192.15, for a total value of $238,650.30. Following the completion of the sale, the chief executive officer now owns 527,555 shares in the company, valued at $101,369,693.25. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 13,662 shares of company stock valued at $2,582,789 over the last 90 days. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Up 0.2 %

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

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.16 EPS. Sell-side 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 Dividend Announcement

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

The PNC Financial Services Group Profile

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.