Dai ichi Life Insurance Company Ltd cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 21.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,229 shares of the financial services provider’s stock after selling 7,766 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in The PNC Financial Services Group were worth $3,466,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. MUFG Securities EMEA plc bought a new position in The PNC Financial Services Group in the 2nd quarter worth $25,000. OFI Invest Asset Management purchased a new stake in The PNC Financial Services Group in the third quarter worth about $25,000. Fiduciary Alliance LLC bought a new stake in The PNC Financial Services Group during the 2nd quarter valued at approximately $27,000. DHJJ Financial Advisors Ltd. bought a new position in shares of The PNC Financial Services Group in the 3rd quarter worth approximately $29,000. Finally, Tyler Stone Wealth Management purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at approximately $29,000. Institutional investors own 80.14% of the company’s stock.
The PNC Financial Services Group Stock Down 0.9 %
NYSE PNC opened at $149.43 on Tuesday. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $167.12. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $59.52 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 1.76 and a beta of 1.18. The stock’s 50-day moving average price is $144.42 and its 200-day moving average price is $130.58.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last issued its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $1.04. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The business had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the prior year, the business posted $3.49 EPS. The PNC Financial Services Group’s revenue for the quarter was down 7.0% compared to the same quarter last year. On average, equities research analysts predict that The PNC Financial Services Group, Inc. will post 12.27 earnings per share for the current year.
The PNC Financial Services Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 5th. Investors of record on Tuesday, January 16th will be issued a $1.55 dividend. The ex-dividend date is Friday, January 12th. This represents a $6.20 dividend on an annualized basis and a yield of 4.15%. The PNC Financial Services Group’s dividend payout ratio is presently 48.48%.
Insiders Place Their Bets
In other news, EVP Guild Deborah sold 1,533 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $132.51, for a total value of $203,137.83. Following the transaction, the executive vice president now owns 17,092 shares of the company’s stock, valued at $2,264,860.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.39% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on PNC. UBS Group lifted their price target on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Stephens reiterated an “equal weight” rating and set a $138.00 target price on shares of The PNC Financial Services Group in a report on Tuesday, December 5th. The Goldman Sachs Group upped their price target on The PNC Financial Services Group from $128.00 to $147.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 19th. Piper Sandler lifted their price objective on The PNC Financial Services Group from $125.00 to $143.00 and gave the company a “neutral” rating in a research note on Friday, December 8th. Finally, Keefe, Bruyette & Woods raised their price target on The PNC Financial Services Group from $125.00 to $145.00 and gave the company an “underperform” rating in a report on Wednesday, January 3rd. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $145.53.
Get Our Latest Stock Report on PNC
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 certificates of 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.
Further Reading
Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report).
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