Daiwa Securities Group Inc. Has $5.52 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Daiwa Securities Group Inc. boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,644 shares of the financial services provider’s stock after buying an additional 2,072 shares during the quarter. Daiwa Securities Group Inc.’s holdings in The PNC Financial Services Group were worth $5,519,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $735,469,000. Moneta Group Investment Advisors LLC boosted its stake in The PNC Financial Services Group by 122,771.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock valued at $401,323,000 after purchasing an additional 2,538,916 shares during the period. Morgan Stanley grew its holdings in The PNC Financial Services Group by 28.7% in the 4th quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock valued at $740,101,000 after buying an additional 1,045,055 shares during the last quarter. FMR LLC increased its position in The PNC Financial Services Group by 6.7% in the 3rd quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock worth $1,758,880,000 after buying an additional 893,808 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of The PNC Financial Services Group by 7.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock worth $2,064,357,000 after buying an additional 860,489 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. UBS Group boosted their target price on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. The Goldman Sachs Group boosted their price objective on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a report on Monday, April 1st. Bank of America increased their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price target for the company from $141.00 to $155.00 in a research note on Thursday, March 28th. Finally, Morgan Stanley lifted their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $156.63.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $152.30 on Friday. The firm has a market capitalization of $60.59 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.67 and a beta of 1.18. The stock has a fifty day moving average price of $151.89 and a two-hundred day moving average price of $141.95. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter last year, the company posted $3.98 EPS. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 12.62 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s payout ratio is currently 52.06%.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.42% of the stock is owned by corporate insiders.

About The PNC Financial Services Group

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.