Asset Management One Co. Ltd. Has $30.64 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Asset Management One Co. Ltd. grew its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 158,514 shares of the financial services provider's stock after purchasing an additional 3,395 shares during the quarter. Asset Management One Co. Ltd.'s holdings in The PNC Financial Services Group were worth $30,638,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Exchange Traded Concepts LLC acquired a new stake in The PNC Financial Services Group during the third quarter worth about $70,000. Creative Planning grew its position in The PNC Financial Services Group by 8.7% during the third quarter. Creative Planning now owns 75,927 shares of the financial services provider's stock worth $14,035,000 after buying an additional 6,055 shares in the last quarter. SeaCrest Wealth Management LLC grew its position in The PNC Financial Services Group by 20.9% during the third quarter. SeaCrest Wealth Management LLC now owns 1,926 shares of the financial services provider's stock worth $356,000 after buying an additional 333 shares in the last quarter. Vontobel Holding Ltd. grew its position in The PNC Financial Services Group by 2.7% during the third quarter. Vontobel Holding Ltd. now owns 33,468 shares of the financial services provider's stock worth $6,187,000 after buying an additional 887 shares in the last quarter. Finally, Good Life Advisors LLC acquired a new stake in The PNC Financial Services Group during the third quarter worth about $639,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PNC shares. Barclays lifted their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Citigroup lifted their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a "buy" rating in a report on Monday, November 25th. Wells Fargo & Company lifted their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Stephens reaffirmed an "equal weight" rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Finally, Truist Financial lifted their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a "hold" rating in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $205.00.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $202.11, for a total transaction of $251,020.62. Following the transaction, the chief executive officer now directly owns 522,587 shares of the company's stock, valued at approximately $105,620,058.57. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 13,662 shares of company stock valued at $2,730,549 in the last 90 days. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Up 0.7 %

Shares of The PNC Financial Services Group stock traded up $1.43 during trading on Tuesday, reaching $195.34. The stock had a trading volume of 899,640 shares, compared to its average volume of 2,183,198. 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 company has a market capitalization of $77.51 billion, a price-to-earnings ratio of 14.20, a P/E/G ratio of 1.64 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26. The stock has a fifty day moving average price of $196.90 and a two-hundred day moving average price of $191.28.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to analysts' expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business's quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the business earned $3.16 EPS. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio (DPR) is 46.55%.

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.