Nissay Asset Management Corp Japan ADV Increases Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Nissay Asset Management Corp Japan ADV raised its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,852 shares of the financial services provider’s stock after buying an additional 732 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in The PNC Financial Services Group were worth $9,249,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in The PNC Financial Services Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider’s stock valued at $7,273,794,000 after buying an additional 268,827 shares during the period. Franklin Resources Inc. boosted its position in The PNC Financial Services Group by 5.3% during the 4th quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider’s stock valued at $2,089,622,000 after buying an additional 549,278 shares during the period. Massachusetts Financial Services Co. MA boosted its position in The PNC Financial Services Group by 10.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock valued at $1,453,763,000 after buying an additional 726,115 shares during the period. Norges Bank purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at $1,352,151,000. Finally, Northern Trust Corp raised its holdings in The PNC Financial Services Group by 14.9% in the 4th quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider’s stock worth $905,530,000 after purchasing an additional 608,375 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In related news, Director Martin Pfinsgraff purchased 1,000 shares of The PNC Financial Services Group stock in a transaction dated Friday, April 25th. The stock was purchased at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the purchase, the director now directly owns 2,009 shares of the company’s stock, valued at $317,863.98. The trade was a 99.11% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $150.50, for a total transaction of $96,470.50. Following the completion of the sale, the chief executive officer now owns 562,291 shares of the company’s stock, valued at $84,624,795.50. This represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,396 shares of company stock valued at $2,789,603. Insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the subject of several research analyst reports. The Goldman Sachs Group dropped their target price on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods dropped their target price on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a research report on Wednesday, April 16th. Hsbc Global Res raised shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. JPMorgan Chase & Co. dropped their target price on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. Finally, Morgan Stanley dropped their target price on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating for the company in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $200.88.

The PNC Financial Services Group Stock Up 0.3%

Shares of The PNC Financial Services Group stock opened at $178.04 on Thursday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $70.43 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. The PNC Financial Services Group, Inc. has a 52-week low of $145.12 and a 52-week high of $216.26. The company has a 50-day simple moving average of $164.57 and a two-hundred day simple moving average of $186.36.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.04. The business had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. On average, analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 3.59%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 45.20%.

The PNC Financial Services Group Company 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.