The PNC Financial Services Group, Inc $PNC Holdings Increased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 7.0% in the second quarter, HoldingsChannel reports. The fund owned 757,108 shares of the financial services provider’s stock after purchasing an additional 49,812 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in The PNC Financial Services Group were worth $141,140,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Aviva PLC lifted its position in The PNC Financial Services Group by 6.3% in the second quarter. Aviva PLC now owns 295,836 shares of the financial services provider’s stock worth $55,150,000 after purchasing an additional 17,578 shares during the period. Los Angeles Capital Management LLC raised its stake in shares of The PNC Financial Services Group by 1.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 164,229 shares of the financial services provider’s stock worth $30,616,000 after buying an additional 2,450 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of The PNC Financial Services Group by 1,133.3% in the second quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock valued at $41,000 after buying an additional 204 shares during the period. Summit Investment Advisors Inc. boosted its stake in The PNC Financial Services Group by 13.2% during the first quarter. Summit Investment Advisors Inc. now owns 21,471 shares of the financial services provider’s stock valued at $3,774,000 after buying an additional 2,509 shares in the last quarter. Finally, AE Wealth Management LLC grew its holdings in The PNC Financial Services Group by 41.6% during the second quarter. AE Wealth Management LLC now owns 12,902 shares of the financial services provider’s stock worth $2,405,000 after acquiring an additional 3,788 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PNC shares. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a report on Monday, September 29th. Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. Wells Fargo & Company upped their price target on The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. Truist Financial increased their price objective on The PNC Financial Services Group from $201.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, September 24th. Finally, UBS Group boosted their target price on The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $218.47.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Guild Deborah sold 1,080 shares of the stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $186.97, for a total value of $201,927.60. Following the completion of the sale, the executive vice president directly owned 27,335 shares of the company’s stock, valued at $5,110,824.95. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the transaction, the executive vice president directly owned 5,802 shares in the company, valued at $1,065,073.14. The trade was a 14.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,151 shares of company stock valued at $400,092 over the last 90 days. Corporate insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Trading Up 0.6%

The PNC Financial Services Group stock opened at $184.07 on Friday. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $72.49 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 1.26 and a beta of 1.12. The company has a 50 day moving average price of $193.80 and a 200 day moving average price of $187.14.

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 company had revenue of $5.92 billion for the quarter, compared to the consensus estimate 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 was up 8.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.49 EPS. Research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, October 14th. The PNC Financial Services Group’s payout ratio is presently 43.93%.

The PNC Financial Services Group Profile

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.