Elo Mutual Pension Insurance Co Decreases Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Elo Mutual Pension Insurance Co cut its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,274 shares of the financial services provider’s stock after selling 1,552 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in The PNC Financial Services Group were worth $6,995,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PNC. Mirae Asset Global Investments Co. Ltd. lifted 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 last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of The PNC Financial Services Group by 48.5% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock valued at $5,160,000 after purchasing an additional 8,735 shares during the period. Mn Services Vermogensbeheer B.V. lifted its stake in shares of The PNC Financial Services Group by 2.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock valued at $30,202,000 after buying an additional 3,100 shares in the last quarter. PKS Advisory Services LLC bought a new position in The PNC Financial Services Group in the 4th quarter worth approximately $357,000. Finally, Root Financial Partners LLC purchased a new position in The PNC Financial Services Group in the 4th quarter valued at approximately $346,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Barclays raised their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. The Goldman Sachs Group reduced their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Citigroup lowered their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday. Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Finally, Truist Financial increased their target price on shares of 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $201.65.

The PNC Financial Services Group Stock Down 1.0 %

Shares of NYSE PNC opened at $175.10 on Friday. The stock has a market capitalization of $69.30 billion, a P/E ratio of 12.73, a PEG ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26. The firm’s 50 day simple moving average is $188.44 and its two-hundred day simple moving average is $192.09. 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 (NYSE:PNC) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.16 EPS. As a group, analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.66%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the 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 completion of the sale, the chief executive officer now owns 566,057 shares of the company’s stock, valued at approximately $97,361,804. This represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 12,420 shares of company stock worth $2,342,313 in the last ninety days. 0.42% of the stock is owned by insiders.

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.