Nomura Asset Management Co. Ltd. Raises Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Nomura Asset Management Co. Ltd. boosted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,496 shares of the financial services provider’s stock after purchasing an additional 474 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in The PNC Financial Services Group were worth $23,238,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its position in The PNC Financial Services Group by 25.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock valued at $7,739,000 after buying an additional 8,081 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in shares of The PNC Financial Services Group by 48.5% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock worth $5,160,000 after purchasing an additional 8,735 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its holdings in shares of The PNC Financial Services Group by 2.0% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock worth $30,202,000 after purchasing an additional 3,100 shares during the period. PKS Advisory Services LLC purchased a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $357,000. Finally, Root Financial Partners LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at $346,000. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PNC. Compass Point upped 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. Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. The Goldman Sachs Group lowered their price target on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Stephens reaffirmed an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Finally, Barclays boosted their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $204.25.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $171.83 on Friday. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $68.00 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The firm’s fifty day moving average price is $187.91 and its 200-day moving average price is $192.10.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $3.16 earnings per share. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal 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 paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, January 10th. The shares were sold at an average price of $192.88, for a total value of $239,556.96. Following the transaction, the chief executive officer now owns 526,313 shares in the company, valued at $101,515,251.44. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 12,420 shares of company stock worth $2,342,313. 0.41% of the stock is currently owned by 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.