Sumitomo Mitsui Trust Group Inc. Has $169.50 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 878,932 shares of the financial services provider’s stock after selling 36,008 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of The PNC Financial Services Group worth $169,502,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PNC. CWM LLC lifted its stake in The PNC Financial Services Group by 14.7% in the third quarter. CWM LLC now owns 13,108 shares of the financial services provider’s stock valued at $2,423,000 after buying an additional 1,681 shares in the last quarter. Wedmont Private Capital grew its holdings in shares of The PNC Financial Services Group by 12.4% in the 3rd quarter. Wedmont Private Capital now owns 4,399 shares of the financial services provider’s stock valued at $802,000 after acquiring an additional 486 shares in the last quarter. USA Financial Formulas raised its holdings in The PNC Financial Services Group by 7.6% during the third quarter. USA Financial Formulas now owns 1,287 shares of the financial services provider’s stock worth $238,000 after acquiring an additional 91 shares in the last quarter. UMB Bank n.a. raised its stake in shares of The PNC Financial Services Group by 0.9% during the 3rd quarter. UMB Bank n.a. now owns 14,728 shares of the financial services provider’s stock worth $2,722,000 after purchasing an additional 132 shares in the last quarter. Finally, Quotient Wealth Partners LLC grew its stake in shares of The PNC Financial Services Group by 2.1% in the third quarter. Quotient Wealth Partners LLC now owns 3,488 shares of the financial services provider’s stock valued at $645,000 after buying an additional 73 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Piper Sandler lifted their price objective on shares of 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 lifted 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. Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Truist Financial boosted their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $205.00.

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 stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $189.29, for a total transaction of $235,098.18. Following the completion of the sale, the chief executive officer now directly owns 530,039 shares in the company, valued at approximately $100,331,082.31. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,413 shares of company stock worth $6,037,230 over the last ninety days. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $200.80 on Friday. The firm has a 50 day simple moving average of $198.68 and a 200 day simple moving average of $190.28. The company has a market cap of $79.67 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 1.63 and a beta of 1.16. 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 PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate 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 firm’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $3.16 EPS. Research analysts predict that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.19%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 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.