Schroder Investment Management Group Purchases 860,554 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Schroder Investment Management Group raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 166.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,378,675 shares of the financial services provider’s stock after purchasing an additional 860,554 shares during the quarter. Schroder Investment Management Group’s holdings in The PNC Financial Services Group were worth $265,436,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Allianz SE bought a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $164,000. Mechanics Financial Corp bought a new stake in The PNC Financial Services Group during the fourth quarter valued at $541,000. Allstate Corp acquired a new stake in The PNC Financial Services Group during the 4th quarter worth about $2,332,000. RiverFront Investment Group LLC grew its holdings in The PNC Financial Services Group by 61.1% during the 4th quarter. RiverFront Investment Group LLC now owns 2,001 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 759 shares during the period. Finally, DnB Asset Management AS lifted its stake in shares of The PNC Financial Services Group by 0.7% in the 4th quarter. DnB Asset Management AS now owns 114,877 shares of the financial services provider’s stock valued at $22,154,000 after purchasing an additional 782 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Down 1.8 %

Shares of The PNC Financial Services Group stock opened at $171.83 on Friday. The company has a market capitalization of $68.00 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The stock has a fifty day simple moving average of $187.91 and a 200 day simple moving average of $192.10. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. 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 posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the business posted $3.16 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.72%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Truist Financial raised their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Stephens reaffirmed an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Citigroup dropped their target price on shares of 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. Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Finally, Barclays lifted their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $204.25.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, March 14th. The stock was sold at an average price of $171.15, for a total transaction of $212,568.30. Following the sale, the chief executive officer now directly owns 567,299 shares in the company, valued at approximately $97,093,223.85. This trade represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 12,420 shares of company stock worth $2,342,313 in the last 90 days. Insiders own 0.41% of the company’s stock.

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.