Mitsubishi UFJ Asset Management Co. Ltd. Boosts Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 632,298 shares of the financial services provider’s stock after purchasing an additional 45,125 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of The PNC Financial Services Group worth $123,696,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P lifted its position in shares of The PNC Financial Services Group by 8.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 50 shares during the period. Baltimore Washington Financial Advisors Inc. lifted its stake in The PNC Financial Services Group by 3.1% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock valued at $324,000 after buying an additional 51 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of The PNC Financial Services Group by 2.4% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock worth $434,000 after acquiring an additional 53 shares during the last quarter. Transcend Capital Advisors LLC boosted its stake in shares of The PNC Financial Services Group by 1.8% during the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock valued at $616,000 after acquiring an additional 55 shares during the last quarter. Finally, Valmark Advisers Inc. grew its holdings in shares of The PNC Financial Services Group by 1.4% during the fourth quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock worth $773,000 after buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $192.88, for a total transaction of $239,556.96. Following the completion of the transaction, the chief executive officer now owns 526,313 shares of the company’s stock, valued at approximately $101,515,251.44. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders sold 12,420 shares of company stock worth $2,342,313. 0.42% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Citigroup dropped their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Monday. Barclays lifted their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Truist Financial raised their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Compass Point increased their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $201.65.

The PNC Financial Services Group Trading Down 1.0 %

NYSE:PNC opened at $175.10 on Friday. The stock’s 50 day moving average price is $188.44 and its 200 day moving average price is $192.09. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26. The company has a market capitalization of $69.30 billion, a P/E ratio of 12.73, a P/E/G ratio of 1.55 and a beta of 1.13. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share 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 return on equity of 11.12% and a net margin of 17.10%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $3.16 earnings per share. On average, research analysts forecast 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 company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is 46.55%.

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.