UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,273,376 shares of the financial services provider’s stock after purchasing an additional 322,982 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.82% of The PNC Financial Services Group worth $631,271,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Waverly Advisors LLC raised its stake in The PNC Financial Services Group by 266.5% in the 4th quarter. Waverly Advisors LLC now owns 16,369 shares of the financial services provider’s stock worth $3,157,000 after acquiring an additional 11,903 shares during the last quarter. Woodline Partners LP purchased a new position in The PNC Financial Services Group in the 4th quarter worth $4,595,000. iSAM Funds UK Ltd purchased a new position in The PNC Financial Services Group in the 4th quarter worth $1,747,000. Vident Advisory LLC raised its stake in The PNC Financial Services Group by 8.4% in the 4th quarter. Vident Advisory LLC now owns 9,660 shares of the financial services provider’s stock worth $1,863,000 after acquiring an additional 748 shares during the last quarter. Finally, Teza Capital Management LLC purchased a new position in The PNC Financial Services Group in the 4th quarter worth $2,797,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group reduced their target price on The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Royal Bank of Canada cut their price target on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Citigroup cut their price target on 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, March 24th. JPMorgan Chase & Co. cut their price target on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a research report on Thursday, April 3rd. Finally, Truist Financial cut their price target on The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating on the stock in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $202.67.

The PNC Financial Services Group Trading Down 0.7%

Shares of The PNC Financial Services Group stock opened at $177.36 on Wednesday. The firm has a market capitalization of $70.16 billion, a PE ratio of 12.90, a P/E/G ratio of 1.55 and a beta of 1.06. The PNC Financial Services Group, Inc. has a twelve month low of $145.12 and a twelve month high of $216.26. The firm’s 50-day moving average price is $165.19 and its 200 day moving average price is $186.07. 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) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.04. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates 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, sell-side analysts predict 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 business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio is presently 45.20%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $192.45, for a total value of $239,022.90. Following the transaction, the chief executive officer now directly owns 571,025 shares of the company’s stock, valued at $109,893,761.25. This trade represents a 0.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the transaction, the executive vice president now directly owns 20,490 shares in the company, valued at $3,576,734.40. This trade represents a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,638 shares of company stock valued at $3,012,095 in the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

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.