AIA Group Ltd Has $681,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

AIA Group Ltd lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 12.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,530 shares of the financial services provider’s stock after selling 507 shares during the period. AIA Group Ltd’s holdings in The PNC Financial Services Group were worth $681,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PNC. Winch Advisory Services LLC purchased a new position in The PNC Financial Services Group during the 4th quarter valued at about $25,000. Richardson Financial Services Inc. grew its position in The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. Albion Financial Group UT acquired a new position in The PNC Financial Services Group in the 4th quarter valued at approximately $30,000. Synergy Asset Management LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $32,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $172.00, for a total transaction of $213,624.00. Following the sale, the chief executive officer now directly owns 566,057 shares in the company, valued at approximately $97,361,804. The trade was a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 12,420 shares of company stock valued at $2,342,313 in the last quarter. Corporate insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on PNC. Piper Sandler increased their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Morgan Stanley raised their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Wells Fargo & Company reduced their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a report on Friday. Citigroup cut their price objective on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Finally, Barclays boosted their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $204.12.

The PNC Financial Services Group Stock Up 2.3 %

PNC opened at $175.87 on Tuesday. The business has a 50 day moving average of $187.46 and a 200-day moving average of $192.20. The stock has a market capitalization of $69.60 billion, a price-to-earnings ratio of 12.79, a P/E/G ratio of 1.55 and a beta of 1.13. 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 PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating 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 firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the firm earned $3.16 EPS. The business’s revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.64%. The PNC Financial Services Group’s dividend payout ratio is 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.