Dai ichi Life Insurance Company Ltd Boosts Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Dai ichi Life Insurance Company Ltd lifted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 34.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,900 shares of the financial services provider's stock after buying an additional 9,671 shares during the quarter. Dai ichi Life Insurance Company Ltd's holdings in The PNC Financial Services Group were worth $5,869,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. BKM Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $26,000. Tennessee Valley Asset Management Partners acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $26,000. Fortitude Family Office LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $28,000. Householder Group Estate & Retirement Specialist LLC raised its stake in shares of The PNC Financial Services Group by 350.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider's stock worth $28,000 after buying an additional 140 shares during the period. Finally, Criterion Capital Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $32,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the transaction, the executive vice president now owns 3,502 shares of the company's stock, valued at approximately $545,856.74. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.42% of the company's stock.

The PNC Financial Services Group Trading Down 1.3 %

Shares of NYSE PNC traded down $2.05 during mid-day trading on Wednesday, reaching $156.50. 1,140,786 shares of the company's stock were exchanged, compared to its average volume of 1,960,821. The firm has a market capitalization of $62.27 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.78 and a beta of 1.16. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24. The company's 50-day moving average is $155.68 and its 200-day moving average is $148.53.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping analysts' consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to analysts' expectations of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company's revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.98 EPS. Analysts expect that The PNC Financial Services Group, Inc. will post 12.62 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group's dividend payout ratio is presently 52.06%.

Analyst Upgrades and Downgrades

Several analysts recently commented on PNC shares. JPMorgan Chase & Co. dropped their price target on The PNC Financial Services Group from $163.50 to $163.00 and set an "overweight" rating for the company in a research report on Wednesday, May 1st. Keefe, Bruyette & Woods reiterated an "underperform" rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Bank of America boosted their price target on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 17th. Evercore ISI dropped their price target on The PNC Financial Services Group from $184.00 to $175.00 and set an "outperform" rating for the company in a research report on Wednesday, April 17th. Finally, Jefferies Financial Group dropped their price target on The PNC Financial Services Group from $171.00 to $162.00 and set a "hold" rating for the company in a research report on Wednesday, April 17th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of "Hold" and an average price target of $157.02.

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.