MUFG Securities EMEA plc Buys 113,539 Shares of The PNC Financial Services Group, Inc $PNC

MUFG Securities EMEA plc raised its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 1,506.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 121,077 shares of the financial services provider’s stock after buying an additional 113,539 shares during the period. MUFG Securities EMEA plc’s holdings in The PNC Financial Services Group were worth $25,272,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Welch & Forbes LLC increased its holdings in shares of The PNC Financial Services Group by 3.8% in the 4th quarter. Welch & Forbes LLC now owns 9,069 shares of the financial services provider’s stock worth $1,893,000 after buying an additional 328 shares during the last quarter. Norges Bank bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth $1,967,080,000. Eurizon Capital SGR S.p.A. bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth $35,124,000. Fideuram Asset Management Ireland dac bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth $1,162,000. Finally, Basepoint Wealth LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $97,000. Institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the sale, the director owned 10,749 shares of the company’s stock, valued at $2,370,906.93. This trade represents a 80.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is currently owned by company insiders.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $221.36 on Friday. The firm has a market cap of $88.89 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 0.92 and a beta of 0.94. The PNC Financial Services Group, Inc has a 12-month low of $170.49 and a 12-month high of $243.94. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The company’s fifty day simple moving average is $216.27 and its two-hundred day simple moving average is $213.05.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The business had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company’s revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.51 EPS. As a group, equities analysts expect that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 39.51%.

Analyst Ratings Changes

Several equities analysts recently commented on PNC shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $235.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Bank of America increased their target price on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Citigroup increased their target price on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Oppenheimer increased their target price on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.11.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.