Janus Henderson Group PLC Reduces Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Janus Henderson Group PLC reduced its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 0.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,373,616 shares of the financial services provider's stock after selling 10,793 shares during the quarter. Janus Henderson Group PLC owned 0.35% of The PNC Financial Services Group worth $253,916,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PNC. International Assets Investment Management LLC increased its holdings in shares of The PNC Financial Services Group by 12,940.0% in the third quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider's stock worth $99,262,000 after acquiring an additional 532,871 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of The PNC Financial Services Group by 160.9% in the third quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider's stock worth $129,836,000 after acquiring an additional 433,178 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of The PNC Financial Services Group by 152.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider's stock worth $71,163,000 after acquiring an additional 276,200 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of The PNC Financial Services Group by 88.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider's stock worth $108,217,000 after acquiring an additional 274,186 shares in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of The PNC Financial Services Group by 24.1% in the second quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider's stock worth $209,962,000 after acquiring an additional 262,654 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on PNC shares. Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Piper Sandler increased their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a "neutral" rating in a report on Tuesday. Citigroup increased their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Evercore ISI increased their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Finally, Barclays increased their price objective on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $193.96.

The PNC Financial Services Group Stock Down 0.5 %

The PNC Financial Services Group stock traded down $1.10 during midday trading on Wednesday, reaching $207.91. The stock had a trading volume of 1,458,292 shares, compared to its average volume of 1,870,527. The PNC Financial Services Group, Inc. has a 12 month low of $138.46 and a 12 month high of $216.26. The company has a market capitalization of $82.50 billion, a P/E ratio of 17.57, a PEG ratio of 2.21 and a beta of 1.15. The company has a fifty day moving average price of $195.60 and a two-hundred day moving average price of $177.70. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts' consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period in the previous year, the company posted $3.60 EPS. The firm's revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts expect that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group's dividend payout ratio is currently 54.10%.

Insiders Place Their Bets

In related news, Director Martin Pfinsgraff sold 859 shares of the company's stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the transaction, the director now owns 915 shares in the company, valued at approximately $170,299.80. This represents a 48.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $216.01, for a total value of $268,284.42. Following the sale, the chief executive officer now owns 533,765 shares in the company, valued at approximately $115,298,577.65. This represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,788 shares of company stock valued at $5,613,814. Corporate insiders own 0.42% of the company's stock.

The PNC Financial Services Group Company 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.