Mitsubishi UFJ Trust & Banking Corp Purchases 57,465 Shares of The PNC Financial Services Group, Inc $PNC

Mitsubishi UFJ Trust & Banking Corp boosted its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 24.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 293,455 shares of the financial services provider’s stock after purchasing an additional 57,465 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in The PNC Financial Services Group were worth $54,706,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the company. Brighton Jones LLC lifted its stake in shares of The PNC Financial Services Group by 32.2% during the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after buying an additional 984 shares in the last quarter. CWM LLC grew its holdings in The PNC Financial Services Group by 50.4% during the 1st quarter. CWM LLC now owns 23,676 shares of the financial services provider’s stock valued at $4,162,000 after buying an additional 7,931 shares in the last quarter. Signaturefd LLC grew its stake in The PNC Financial Services Group by 1.2% in the 1st quarter. Signaturefd LLC now owns 7,189 shares of the financial services provider’s stock worth $1,264,000 after acquiring an additional 82 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in The PNC Financial Services Group during the 1st quarter valued at $607,000. Finally, Larson Financial Group LLC grew its stake in The PNC Financial Services Group by 8.1% in the first quarter. Larson Financial Group LLC now owns 16,198 shares of the financial services provider’s stock valued at $2,847,000 after purchasing an additional 1,212 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insider Activity at The PNC Financial Services Group

In related news, EVP Guild Deborah sold 1,080 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $186.97, for a total transaction of $201,927.60. Following the completion of the sale, the executive vice president directly owned 27,335 shares of the company’s stock, valued at approximately $5,110,824.95. This trade represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Duane Thomas sold 1,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the completion of the sale, the executive vice president owned 5,802 shares of the company’s stock, valued at $1,065,073.14. This trade represents a 14.70% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 2,151 shares of company stock worth $400,092. Corporate insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PNC shares. Piper Sandler upgraded shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $211.00 to $220.00 in a research note on Thursday, October 9th. Evercore ISI upped their price target on The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Morgan Stanley raised their price objective on The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th. UBS Group raised their price target on The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Finally, Wall Street Zen upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $218.47.

The PNC Financial Services Group Trading Up 1.1%

Shares of PNC opened at $186.83 on Thursday. The stock has a market cap of $73.26 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.26 and a beta of 1.12. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. The firm’s fifty day moving average is $192.57 and its two-hundred day moving average is $187.70.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The firm had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter last year, the business posted $3.49 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. Research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were issued a dividend of $1.70 per share. The ex-dividend date was Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 43.93%.

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.