The PNC Financial Services Group, Inc $PNC Stock Holdings Lessened by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. cut its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 68.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,110 shares of the financial services provider’s stock after selling 17,820 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in The PNC Financial Services Group were worth $1,803,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bell Investment Advisors Inc lifted its position in The PNC Financial Services Group by 24.6% during the 3rd quarter. Bell Investment Advisors Inc now owns 760 shares of the financial services provider’s stock worth $169,000 after buying an additional 150 shares in the last quarter. Columbia Bank increased its position in The PNC Financial Services Group by 1.3% in the 3rd quarter. Columbia Bank now owns 14,408 shares of the financial services provider’s stock valued at $3,202,000 after acquiring an additional 185 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in The PNC Financial Services Group in the 3rd quarter valued at about $26,266,000. Profund Advisors LLC raised its stake in shares of The PNC Financial Services Group by 8.1% in the third quarter. Profund Advisors LLC now owns 4,104 shares of the financial services provider’s stock worth $912,000 after acquiring an additional 306 shares during the last quarter. Finally, Cidel Asset Management Inc. bought a new position in shares of The PNC Financial Services Group in the third quarter worth about $756,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Stacy Juchno sold 3,354 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the transaction, the executive vice president owned 18,800 shares of the company’s stock, valued at $4,809,792. This represents a 15.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.38% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Up 0.0%

Shares of NYSE PNC opened at $227.88 on Monday. The PNC Financial Services Group, Inc has a 1 year low of $177.08 and a 1 year high of $258.96. The firm’s 50-day moving average is $230.03 and its 200-day moving average is $228.88. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $90.91 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.18 and a beta of 0.94.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, October 15th. The financial services provider reported $5.09 earnings per share for the quarter, beating the consensus estimate of $4.91 by $0.18. The PNC Financial Services Group had a net margin of 21.83% and a return on equity of 12.82%. The business had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.61 billion. During the same period in the prior year, the business posted $4.35 earnings per share. The PNC Financial Services Group’s revenue was up 10.9% compared to the same quarter last year. Equities analysts expect that The PNC Financial Services Group, Inc will post 19.22 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Wednesday, October 14th will be given a dividend of $2.00 per share. The ex-dividend date is Wednesday, October 14th. This represents a $8.00 annualized dividend and a dividend yield of 3.5%. The PNC Financial Services Group’s payout ratio is presently 42.58%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Evercore reduced their target price on shares of The PNC Financial Services Group from $265.00 to $260.00 and set an “outperform” rating on the stock in a research report on Monday, October 19th. Wolfe Research assumed coverage on shares of The PNC Financial Services Group in a report on Tuesday, October 27th. They issued a “peer perform” rating for the company. Truist Financial dropped their price objective on shares of The PNC Financial Services Group from $252.00 to $248.00 and set a “hold” rating for the company in a research report on Monday, October 19th. Oppenheimer upped their price objective on The PNC Financial Services Group from $263.00 to $269.00 and gave the stock an “outperform” rating in a report on Friday, October 16th. Finally, UBS Group decreased their price objective on The PNC Financial Services Group from $288.00 to $286.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Seventeen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $266.17.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.