Allianz SE Buys New Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Allianz SE purchased a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, HoldingsChannel reports. The fund purchased 850 shares of the financial services provider’s stock, valued at approximately $164,000.

Other institutional investors have also bought and sold shares of the company. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at about $25,000. Richardson Financial Services Inc. raised its stake in shares of The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares during the period. Albion Financial Group UT purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $30,000. Synergy Asset Management LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth about $32,000. Finally, Rialto Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the topic of several research analyst reports. Compass Point upped their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. HSBC raised shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and reduced their price target for the stock from $206.00 to $202.00 in a research note on Monday. Barclays boosted their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. The Goldman Sachs Group reduced their target price on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Finally, Piper Sandler boosted their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $204.12.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $175.87 on Tuesday. The company has a market capitalization of $69.60 billion, a PE ratio of 12.79, a P/E/G ratio of 1.55 and a beta of 1.13. The company has a 50-day simple moving average of $187.46 and a two-hundred day simple moving average of $192.20. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26. 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 PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The PNC Financial Services Group’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.16 EPS. Research analysts expect 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.64%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $171.15, for a total value of $212,568.30. Following the completion of the sale, the chief executive officer now owns 567,299 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 12,420 shares of company stock valued at $2,342,313 in the last ninety days. Corporate insiders own 0.41% of the company’s stock.

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.