The PNC Financial Services Group, Inc $PNC Stock Position Raised by Mufg Securities Americas Inc.

Mufg Securities Americas Inc. lifted its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 21.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,484 shares of the financial services provider’s stock after purchasing an additional 1,666 shares during the quarter. Mufg Securities Americas Inc.’s holdings in The PNC Financial Services Group were worth $1,768,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Avior Wealth Management LLC boosted its holdings in shares of The PNC Financial Services Group by 4.5% in the second quarter. Avior Wealth Management LLC now owns 1,213 shares of the financial services provider’s stock worth $226,000 after buying an additional 52 shares during the period. Rockland Trust Co. lifted its position in shares of The PNC Financial Services Group by 0.5% in the 2nd quarter. Rockland Trust Co. now owns 10,499 shares of the financial services provider’s stock valued at $1,957,000 after acquiring an additional 53 shares in the last quarter. Almanack Investment Partners LLC. boosted its stake in The PNC Financial Services Group by 2.3% in the 2nd quarter. Almanack Investment Partners LLC. now owns 2,433 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 55 shares during the period. Winthrop Capital Management LLC grew its position in The PNC Financial Services Group by 2.1% during the 2nd quarter. Winthrop Capital Management LLC now owns 2,619 shares of the financial services provider’s stock worth $488,000 after purchasing an additional 55 shares in the last quarter. Finally, Rosenberg Matthew Hamilton raised its stake in The PNC Financial Services Group by 15.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 429 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 56 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,000 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the completion of the transaction, the executive vice president owned 5,802 shares of the company’s stock, valued at $1,065,073.14. The trade was a 14.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the sale, the executive vice president owned 27,335 shares of the company’s stock, valued at $5,110,824.95. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 2,151 shares of company stock worth $400,092. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Trading Up 1.8%

Shares of NYSE:PNC opened at $186.85 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $73.27 billion, a PE ratio of 12.07, a P/E/G ratio of 1.26 and a beta of 1.12. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The firm has a fifty day moving average price of $189.73 and a 200 day moving average price of $188.71.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The company had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.49 earnings per share. Analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.6%. The PNC Financial Services Group’s dividend payout ratio is presently 43.93%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PNC. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Wednesday, October 8th. Citigroup lifted their target price on The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Piper Sandler raised shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $211.00 to $220.00 in a research report on Thursday, October 9th. Cfra Research raised shares of The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. Finally, Stephens reiterated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $218.00.

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.