Mn Services Vermogensbeheer B.V. Has $25.93 Million Stock Position in The PNC Financial Services Group, Inc (NYSE:PNC)

Mn Services Vermogensbeheer B.V. decreased its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 5.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,509 shares of the financial services provider's stock after selling 9,100 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in The PNC Financial Services Group were worth $25,928,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Norges Bank acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $1,352,151,000. Leigh Baldwin & CO. LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $299,864,000. GAMMA Investing LLC grew its holdings in The PNC Financial Services Group by 19,279.5% during the 1st quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider's stock valued at $201,961,000 after purchasing an additional 1,143,079 shares in the last quarter. Schroder Investment Management Group increased its stake in The PNC Financial Services Group by 166.1% during the 4th quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider's stock worth $265,436,000 after buying an additional 860,554 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in The PNC Financial Services Group by 10.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock worth $1,453,763,000 after buying an additional 726,115 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $174.78, for a total value of $217,076.76. Following the sale, the chief executive officer now owns 564,815 shares of the company's stock, valued at approximately $98,718,365.70. The trade was a 0.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the transaction, the executive vice president now directly owns 20,490 shares in the company, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,912 shares of company stock worth $2,313,022. 0.41% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PNC shares. JPMorgan Chase & Co. lowered their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. Keefe, Bruyette & Woods dropped their price objective on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating on the stock in a 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. Truist Financial lowered their price objective on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Finally, 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 on the stock in a report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $202.67.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC traded up $1.89 during midday trading on Wednesday, hitting $175.09. 1,858,416 shares of the company's stock were exchanged, compared to its average volume of 2,061,268. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $69.26 billion, a P/E ratio of 12.37, a PEG ratio of 1.47 and a beta of 1.06. The stock's 50 day moving average price is $167.82 and its 200-day moving average price is $181.67.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. Equities research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 3.66%. The PNC Financial Services Group's payout ratio is 45.20%.

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.