The PNC Financial Services Group, Inc $PNC Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lifted its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 5.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,261 shares of the financial services provider’s stock after purchasing an additional 2,944 shares during the quarter. Daiwa Securities Group Inc.’s holdings in The PNC Financial Services Group were worth $11,047,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of The PNC Financial Services Group by 32.2% in the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after acquiring an additional 984 shares during the last quarter. Meridian Wealth Management LLC lifted its position in The PNC Financial Services Group by 10.7% during the first quarter. Meridian Wealth Management LLC now owns 6,515 shares of the financial services provider’s stock valued at $1,145,000 after purchasing an additional 630 shares during the period. Westpac Banking Corp boosted its holdings in The PNC Financial Services Group by 12.9% in the first quarter. Westpac Banking Corp now owns 5,126 shares of the financial services provider’s stock valued at $901,000 after purchasing an additional 586 shares during the last quarter. Resona Asset Management Co. Ltd. grew its position in The PNC Financial Services Group by 7.9% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 132,083 shares of the financial services provider’s stock worth $23,137,000 after purchasing an additional 9,645 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of The PNC Financial Services Group by 19.8% during the 1st quarter. Russell Investments Group Ltd. now owns 210,585 shares of the financial services provider’s stock valued at $36,855,000 after buying an additional 34,786 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $206.92 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a fifty day moving average of $187.80 and a 200 day moving average of $190.68. The firm has a market cap of $81.14 billion, a PE ratio of 13.37, a PEG ratio of 1.14 and a beta of 1.01. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $208.80.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.30. The business had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.82 billion. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the business earned $3.49 earnings per share. As a group, research analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.3%. The ex-dividend date was Tuesday, October 14th. The PNC Financial Services Group’s payout ratio is 43.93%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PNC shares. Truist Financial upped their target price on The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, September 24th. Citigroup raised their price objective on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Oppenheimer cut their target price on shares of The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Wells Fargo & Company boosted their target price on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Finally, Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $217.17.

Insider Buying and Selling

In other news, EVP Guild Deborah sold 1,080 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $186.97, for a total value of $201,927.60. Following the transaction, the executive vice president owned 27,335 shares in the company, valued at $5,110,824.95. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael Duane Thomas sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total value of $183,570.00. Following the sale, the executive vice president owned 5,802 shares of the company’s stock, valued at $1,065,073.14. The trade was a 14.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.41% of the stock is 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.