Sumitomo Life Insurance Co. Boosts Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Sumitomo Life Insurance Co. boosted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 59.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,746 shares of the financial services provider's stock after buying an additional 3,646 shares during the period. Sumitomo Life Insurance Co.'s holdings in The PNC Financial Services Group were worth $1,880,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Winch Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $25,000. Albion Financial Group UT acquired a new position in The PNC Financial Services Group during the fourth quarter worth $30,000. Valley Wealth Managers Inc. boosted its position in shares of The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider's stock worth $37,000 after buying an additional 200 shares during the period. Quarry LP grew its stake in shares of The PNC Financial Services Group by 141.7% in the second quarter. Quarry LP now owns 290 shares of the financial services provider's stock valued at $45,000 after buying an additional 170 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at $51,000. Institutional investors and hedge funds own 83.53% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on PNC shares. 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. Barclays lifted 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 report on Monday, January 6th. The Goldman Sachs Group increased their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Keefe, Bruyette & Woods boosted their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an "underperform" rating in a research note on Wednesday, October 16th. Finally, Evercore ISI increased their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $205.00.

The PNC Financial Services Group Stock Down 0.0 %

Shares of The PNC Financial Services Group stock traded down $0.10 during trading hours on Thursday, hitting $202.08. The company had a trading volume of 1,698,302 shares, compared to its average volume of 2,488,637. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The company's 50-day moving average is $200.11 and its two-hundred day moving average is $189.35. The company has a market cap of $80.18 billion, a P/E ratio of 14.70, a price-to-earnings-growth ratio of 1.59 and a beta of 1.16. The PNC Financial Services Group, Inc. has a twelve month low of $139.69 and a twelve month high of $216.26.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the firm posted $3.16 earnings per share. The PNC Financial Services Group's revenue for the quarter was up 3.8% on a year-over-year basis. Analysts anticipate that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group's payout ratio is currently 46.55%.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $189.29, for a total transaction of $235,098.18. Following the completion of the transaction, the chief executive officer now directly owns 530,039 shares of the company's stock, valued at $100,331,082.31. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the transaction, the director now owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,413 shares of company stock worth $6,021,569. Insiders own 0.42% of the company's stock.

The PNC Financial Services Group 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.