Nomura Asset Management Co. Ltd. Increases Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Nomura Asset Management Co. Ltd. raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 120,496 shares of the financial services provider’s stock after acquiring an additional 474 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in The PNC Financial Services Group were worth $23,238,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Winch Advisory Services LLC bought a new position in The PNC Financial Services Group during the 4th quarter valued at approximately $25,000. Richardson Financial Services Inc. increased its stake in shares of 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 buying an additional 140 shares during the period. Albion Financial Group UT bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $30,000. Rialto Wealth Management LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter worth $32,000. Finally, Synergy Asset Management LLC bought a new stake in The PNC Financial Services Group in the fourth quarter valued at $32,000. 83.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on PNC. Wells Fargo & Company dropped their target price on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday. The Goldman Sachs Group cut their price objective on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. 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. Morgan Stanley lifted their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Finally, Compass Point increased their price objective 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and an average target price of $204.25.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction 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 of the company’s stock, valued at $101,369,693.25. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders sold 12,420 shares of company stock worth $2,342,313. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Down 1.8 %

The PNC Financial Services Group stock opened at $171.83 on Friday. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26. The stock has a fifty day simple moving average of $187.91 and a two-hundred day simple moving average of $192.10. 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 firm has a market cap of $68.00 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data 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 company had revenue of $5.57 billion during the quarter, compared to the consensus estimate 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 period last year, the company earned $3.16 EPS. Equities analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.72%. 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.