MML Investors Services LLC Boosts Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

MML Investors Services LLC raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 8.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 109,686 shares of the financial services provider's stock after acquiring an additional 8,737 shares during the quarter. MML Investors Services LLC's holdings in The PNC Financial Services Group were worth $20,275,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Loomis Sayles & Co. L P grew its position in shares of The PNC Financial Services Group by 8.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider's stock worth $115,000 after buying an additional 50 shares in the last quarter. MFA Wealth Advisors LLC grew its holdings in The PNC Financial Services Group by 5.4% during the 3rd quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider's stock worth $200,000 after acquiring an additional 55 shares in the last quarter. Resonant Capital Advisors LLC increased its position in The PNC Financial Services Group by 0.3% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider's stock valued at $3,148,000 after purchasing an additional 56 shares during the period. Altman Advisors Inc. raised its holdings in shares of The PNC Financial Services Group by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider's stock valued at $1,942,000 after purchasing an additional 56 shares in the last quarter. Finally, Valley Brook Capital Group Inc. lifted its position in shares of The PNC Financial Services Group by 0.5% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider's stock worth $1,969,000 after purchasing an additional 57 shares during the period. Hedge funds and other institutional investors own 83.53% of the company's stock.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $209.24, for a total transaction of $259,876.08. Following the completion of the transaction, the chief executive officer now owns 532,523 shares of the company's stock, valued at approximately $111,425,112.52. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the transaction, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,030 shares of company stock worth $5,873,691. 0.42% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PNC. Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Stephens lifted their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. Piper Sandler increased their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Bank of America upgraded The PNC Financial Services Group from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Finally, Citigroup increased their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Two equities 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 company's stock. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of "Hold" and an average price target of $198.02.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock traded down $0.04 during mid-day trading on Tuesday, hitting $204.46. 2,146,190 shares of the company were exchanged, compared to its average volume of 1,868,323. The company has a market capitalization of $81.13 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 2.18 and a beta of 1.15. The business has a fifty day moving average of $197.02 and a 200 day moving average of $178.93. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $5.39 billion. During the same quarter in the prior year, the company earned $3.60 EPS. The company's revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group's payout ratio is currently 54.10%.

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.