Daiwa Securities Group Inc. Purchases 3,573 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Daiwa Securities Group Inc. raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,084 shares of the financial services provider’s stock after purchasing an additional 3,573 shares during the period. Daiwa Securities Group Inc.’s holdings in The PNC Financial Services Group were worth $10,044,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Winch Advisory Services LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at $25,000. Richardson Financial Services Inc. raised its holdings in shares of The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Albion Financial Group UT bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at about $30,000. Synergy Asset Management LLC purchased a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $32,000. Finally, Rialto Wealth Management LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth approximately $32,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Down 2.6 %

Shares of NYSE PNC opened at $170.15 on Wednesday. The firm’s fifty day moving average is $193.39 and its 200 day moving average is $192.90. 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 quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The company has a market cap of $67.34 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The business 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 company’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.16 EPS. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $189.29, for a total value of $235,098.18. Following the completion of the sale, the chief executive officer now owns 530,039 shares of the company’s stock, valued at $100,331,082.31. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders sold 13,662 shares of company stock worth $2,643,895. 0.42% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on PNC. Wells Fargo & Company lifted their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Truist Financial raised their price objective on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Piper Sandler upped their target price on shares of 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. Compass Point raised their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Barclays lifted their price target on 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $205.00.

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.