Mitsubishi UFJ Trust & Banking Corp Has $46.54 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Mitsubishi UFJ Trust & Banking Corp raised its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 18.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 241,311 shares of the financial services provider’s stock after buying an additional 38,136 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in The PNC Financial Services Group were worth $46,537,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in The PNC Financial Services Group by 1.0% during the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock valued at $420,621,000 after purchasing an additional 22,271 shares during the period. Great Valley Advisor Group Inc. grew its holdings in shares of The PNC Financial Services Group by 3.0% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 7,989 shares of the financial services provider’s stock valued at $1,477,000 after buying an additional 230 shares during the period. Swedbank AB increased its position in shares of The PNC Financial Services Group by 0.4% in the 3rd quarter. Swedbank AB now owns 212,137 shares of the financial services provider’s stock valued at $39,214,000 after buying an additional 855 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in The PNC Financial Services Group by 11.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 48,511 shares of the financial services provider’s stock worth $8,967,000 after buying an additional 5,135 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new position in The PNC Financial Services Group during the third quarter worth about $171,000. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PNC. Stephens reaffirmed an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Piper Sandler raised 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 report on Tuesday, December 3rd. Citigroup cut their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday. Compass Point increased their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Barclays boosted their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $201.65.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $176.84 on Wednesday. The firm’s fifty day moving average price is $189.33 and its two-hundred day moving average price is $192.31. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. The firm has a market capitalization of $69.98 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The company has a current ratio of 0.81, a quick 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 (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the business posted $3.16 EPS. The PNC Financial Services Group’s revenue was up 3.8% on a year-over-year basis. As a group, research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, March 14th. The stock was sold at an average price of $171.15, for a total value of $212,568.30. Following the completion of the transaction, the chief executive officer now directly owns 567,299 shares of the company’s stock, valued at $97,093,223.85. The trade was a 0.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have sold 13,662 shares of company stock worth $2,582,789. Company insiders own 0.42% of the company’s stock.

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.