Nippon Life Global Investors Americas Inc. Buys Shares of 30,010 The PNC Financial Services Group, Inc. (NYSE:PNC)

Nippon Life Global Investors Americas Inc. purchased a new position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 30,010 shares of the financial services provider's stock, valued at approximately $5,787,000.

A number of other institutional investors also recently made changes to their positions in the stock. J. Safra Sarasin Holding AG increased its stake in The PNC Financial Services Group by 33.4% in the fourth quarter. J. Safra Sarasin Holding AG now owns 268,231 shares of the financial services provider's stock valued at $51,728,000 after purchasing an additional 67,119 shares during the last quarter. TD Waterhouse Canada Inc. raised its holdings in shares of The PNC Financial Services Group by 12.1% in the 4th quarter. TD Waterhouse Canada Inc. now owns 5,833 shares of the financial services provider's stock worth $1,126,000 after purchasing an additional 629 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of The PNC Financial Services Group by 56.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 20,676 shares of the financial services provider's stock valued at $3,987,000 after purchasing an additional 7,460 shares in the last quarter. Mirabella Financial Services LLP purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth about $919,000. Finally, MetLife Investment Management LLC increased its position in The PNC Financial Services Group by 1.6% during the 4th quarter. MetLife Investment Management LLC now owns 105,025 shares of the financial services provider's stock worth $20,254,000 after purchasing an additional 1,673 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Down 0.8 %

Shares of NYSE:PNC traded down $1.26 during midday trading on Friday, reaching $158.49. The company had a trading volume of 1,125,112 shares, compared to its average volume of 1,999,239. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The stock's fifty day moving average price is $169.74 and its 200-day moving average price is $188.32. The stock has a market capitalization of $62.72 billion, a P/E ratio of 11.53, a PEG ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a one year low of $145.12 and a one year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued 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 business had revenue of $5.45 billion during 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%. Equities research analysts expect 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 business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be paid a $1.60 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.04%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $192.45, for a total transaction of $239,022.90. Following the completion of the sale, the chief executive officer now owns 571,025 shares in the company, valued at $109,893,761.25. The trade was a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders sold 12,420 shares of company stock worth $2,172,655. Insiders own 0.41% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PNC. JPMorgan Chase & Co. reduced their price target 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. Stephens reaffirmed an "equal weight" rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Royal Bank of Canada reduced their price target on shares of 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. Wells Fargo & Company reduced their price target 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. Finally, 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of "Hold" and a consensus price target of $200.88.

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.