The PNC Financial Services Group, Inc. (NYSE:PNC) Stake Raised by Vanguard Group Inc.

Vanguard Group Inc. raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 0.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 37,717,367 shares of the financial services provider's stock after purchasing an additional 268,827 shares during the period. Vanguard Group Inc. owned about 9.51% of The PNC Financial Services Group worth $7,273,794,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of The PNC Financial Services Group by 25.3% in 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 acquiring an additional 8,081 shares during the last quarter. Fifth Third Wealth Advisors LLC grew 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 buying an additional 8,735 shares during the period. Mn Services Vermogensbeheer B.V. increased its stake in shares of The PNC Financial Services Group by 2.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider's stock valued at $30,202,000 after acquiring an additional 3,100 shares during the last quarter. Root Financial Partners LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $346,000. Finally, Truist Financial Corp grew its holdings in 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 valued at $218,429,000 after purchasing an additional 15,246 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $192.88, for a total transaction of $239,556.96. Following the transaction, the chief executive officer now owns 526,313 shares in the company, valued at $101,515,251.44. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 12,420 shares of company stock valued at $2,342,313 over the last 90 days. 0.42% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on PNC. Barclays boosted 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 note on Monday, January 6th. Wells Fargo & Company lowered their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research report on Friday. Morgan Stanley raised their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an "underweight" rating in a report on Friday, January 17th. Stephens reissued an "equal weight" rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Finally, Citigroup reduced their price target 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. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $201.35.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock traded down $3.10 during midday trading on Friday, reaching $171.87. 345,429 shares of the stock traded hands, compared to its average volume of 2,274,359. The firm has a fifty day moving average price of $188.44 and a two-hundred day moving average price of $192.09. 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 firm has a market cap of $68.02 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.55 and a beta of 1.13. 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 (NYSE:PNC - Get Free Report) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $5.57 billion for the quarter, compared to analysts' expectations of $5.51 billion. During the same period last year, the firm earned $3.16 EPS. The firm's revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio is currently 46.55%.

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.