Daiwa Securities Group Inc. Raises Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Daiwa Securities Group Inc. boosted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 52,084 shares of the financial services provider’s stock after acquiring an additional 3,573 shares during the quarter. Daiwa Securities Group Inc.’s holdings in The PNC Financial Services Group were worth $10,044,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PNC. Winch Advisory Services LLC purchased a new position in The PNC Financial Services Group during the fourth quarter valued at $25,000. Richardson Financial Services Inc. raised its position in shares of The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the last quarter. Albion Financial Group UT bought a new stake in The PNC Financial Services Group during the 4th quarter valued at about $30,000. Synergy Asset Management LLC purchased a new position in The PNC Financial Services Group in the fourth quarter worth about $32,000. Finally, Rialto Wealth Management LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth approximately $32,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $203.06, for a total value of $252,200.52. Following the completion of the sale, the chief executive officer now directly owns 531,281 shares of the company’s stock, valued at $107,881,919.86. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 13,662 shares of company stock valued at $2,643,895 over the last 90 days. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Trading Down 2.6 %

Shares of The PNC Financial Services Group stock opened at $170.15 on Wednesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $67.34 billion, a PE ratio of 12.37, a P/E/G ratio of 1.55 and a beta 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 company’s fifty day simple moving average is $193.39 and its 200-day simple moving average is $192.90.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.16 earnings per share. As a group, equities 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 announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is 46.55%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PNC shares. Stephens restated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Truist Financial boosted their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Piper Sandler increased their price objective 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. The Goldman Sachs Group boosted their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Company 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.