The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. grew its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 11,783 shares of the financial services provider’s stock after purchasing an additional 441 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in The PNC Financial Services Group were worth $2,272,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PNC. International Assets Investment Management LLC boosted its position in The PNC Financial Services Group by 12,940.0% during the third quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock worth $99,262,000 after purchasing an additional 532,871 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of The PNC Financial Services Group by 160.9% in the third quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock valued at $129,836,000 after buying an additional 433,178 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of The PNC Financial Services Group by 88.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock worth $108,217,000 after buying an additional 274,186 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of The PNC Financial Services Group by 129.3% in the 3rd quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider’s stock worth $82,768,000 after buying an additional 252,473 shares in the last quarter. Finally, Eastern Bank grew its stake in The PNC Financial Services Group by 1,884.1% in the 3rd quarter. Eastern Bank now owns 248,812 shares of the financial services provider’s stock valued at $45,993,000 after acquiring an additional 236,272 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PNC. The Goldman Sachs Group lifted their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Morgan Stanley upped their target price on 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. Wells Fargo & Company raised their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods upped their price objective on 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. Finally, Piper Sandler increased their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $200.63 on Monday. The company has a market cap of $79.60 billion, a P/E ratio of 14.59, a P/E/G ratio of 1.64 and a beta of 1.16. The firm’s 50 day moving average is $199.85 and its two-hundred day moving average is $189.75. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the company posted $3.16 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts expect that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $196.17, for a total transaction of $243,643.14. Following the completion of the sale, the chief executive officer now directly owns 523,829 shares in the company, valued at $102,759,534.93. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the transaction, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,171 shares of company stock valued at $5,786,210. 0.42% of the stock is currently owned by corporate insiders.

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.