Mizuho Securities USA LLC Has $7.25 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Mizuho Securities USA LLC raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 45.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,606 shares of the financial services provider's stock after purchasing an additional 11,831 shares during the quarter. Mizuho Securities USA LLC's holdings in The PNC Financial Services Group were worth $7,252,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Winch Advisory Services LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. lifted its holdings in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $30,000. Synergy Asset Management LLC acquired a new position in The PNC Financial Services Group in the 4th quarter valued at $32,000. Finally, Rialto Wealth Management LLC purchased a new position in The PNC Financial Services Group during the 4th quarter worth $32,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $192.15, for a total value of $238,650.30. Following the transaction, the chief executive officer now directly owns 527,555 shares of the company's stock, valued at approximately $101,369,693.25. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 13,662 shares of company stock worth $2,582,789 over the last 90 days. 0.42% of the stock is owned by company insiders.

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Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Barclays lifted their price objective on 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. Compass Point upped their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Truist Financial raised their target price 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. Citigroup cut their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday. Finally, Piper Sandler boosted their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of "Hold" and a consensus price target of $201.65.

The PNC Financial Services Group Stock Down 1.0 %

NYSE PNC traded down $1.82 on Thursday, hitting $175.10. 2,324,356 shares of the stock traded hands, compared to its average volume of 1,769,550. 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 PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The stock has a 50-day moving average of $188.86 and a 200 day moving average of $192.20. The company has a market capitalization of $69.30 billion, a P/E ratio of 12.73, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the firm posted $3.16 EPS. The firm's quarterly revenue was up 3.8% on a year-over-year basis. As a group, 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio is 46.55%.

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.