The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Holdings Boosted by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. grew its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 356,103 shares of the financial services provider's stock after purchasing an additional 1,851 shares during the period. Royal London Asset Management Ltd. owned approximately 0.09% of The PNC Financial Services Group worth $68,674,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PNC. Mirae Asset Global Investments Co. Ltd. grew its stake in The PNC Financial Services Group by 25.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider's stock worth $7,739,000 after buying an additional 8,081 shares during the period. Fifth Third Wealth Advisors LLC increased its holdings in The PNC Financial Services Group by 48.5% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider's stock valued at $5,160,000 after purchasing an additional 8,735 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its position in The PNC Financial Services Group by 2.0% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider's stock valued at $30,202,000 after purchasing an additional 3,100 shares during the period. Root Financial Partners LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $346,000. Finally, Truist Financial Corp boosted its position in shares of The PNC Financial Services Group by 1.4% in the fourth quarter. Truist Financial Corp now owns 1,132,634 shares of the financial services provider's stock worth $218,429,000 after buying an additional 15,246 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Piper Sandler raised their target price 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. Citigroup reduced their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday. Stephens restated an "equal weight" rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an "underweight" rating in a research note on Friday, January 17th. Finally, Barclays upped their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $201.65.

The PNC Financial Services Group Stock Performance

Shares of PNC traded up $2.95 during mid-day trading on Monday, hitting $176.56. The stock had a trading volume of 2,924,435 shares, compared to its average volume of 1,762,970. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The company has a market cap of $69.88 billion, a PE ratio of 12.84, a PEG ratio of 1.55 and a beta of 1.13. The company's fifty day simple moving average is $190.03 and its two-hundred day simple moving average is $192.34.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts' consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate 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 firm's revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.16 earnings per share. On average, equities analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio is presently 46.55%.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $192.15, for a total transaction of $238,650.30. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 13,662 shares of company stock worth $2,582,789 over the last quarter. 0.42% of the stock is owned by company insiders.

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.