Man Group plc Boosts Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Man Group plc increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 70.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,234 shares of the financial services provider's stock after purchasing an additional 8,353 shares during the quarter. Man Group plc's holdings in The PNC Financial Services Group were worth $3,902,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. grew its position in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after acquiring an additional 140 shares during the last quarter. Albion Financial Group UT purchased a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $30,000. Synergy Asset Management LLC purchased a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $32,000. Rialto Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $32,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 83.53% of the company's stock.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $179.14, for a total value of $222,491.88. Following the completion of the transaction, the chief executive officer now owns 556,121 shares of the company's stock, valued at approximately $99,623,515.94. The trade was a 0.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of the business's stock in a transaction dated Monday, May 12th. The shares were 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 of the company's stock, valued at $3,576,734.40. The trade was a 6.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,638 shares of company stock valued at $3,012,095 in the last 90 days. 0.41% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of analyst reports. Truist Financial lowered their price objective on shares of 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. Keefe, Bruyette & Woods lowered their price objective on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company lowered their price objective on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Morgan Stanley lowered their price objective on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of 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. Two 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 given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $202.67.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $172.34 on Thursday. The company has a market cap of $68.17 billion, a P/E ratio of 12.53, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. 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, Inc. has a one year low of $145.12 and a one year high of $216.26. The business has a fifty day moving average of $165.18 and a two-hundred day moving average of $185.97.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly 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 the consensus estimate of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. As a group, analysts predict 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 declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.71%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.

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.

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