MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Buys Shares of 50,956 The PNC Financial Services Group, Inc. (NYSE:PNC)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 50,956 shares of the financial services provider’s stock, valued at approximately $7,891,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $735,469,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 122,771.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock valued at $401,323,000 after purchasing an additional 2,538,916 shares during the last quarter. Morgan Stanley lifted its holdings in shares of The PNC Financial Services Group by 28.7% during the 4th quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock valued at $740,101,000 after purchasing an additional 1,045,055 shares during the last quarter. FMR LLC lifted its holdings in shares of The PNC Financial Services Group by 6.7% during the 3rd quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after purchasing an additional 893,808 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of The PNC Financial Services Group by 7.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock valued at $2,064,357,000 after purchasing an additional 860,489 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC traded up $1.63 during trading on Friday, reaching $161.60. 1,725,504 shares of the company traded hands, compared to its average volume of 2,433,371. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24. The stock has a market cap of $64.29 billion, a P/E ratio of 12.63, a PEG ratio of 1.84 and a beta of 1.17. The firm’s fifty day simple moving average is $150.26 and its 200 day simple moving average is $138.41.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $1.04. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The company had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same period in the previous year, the firm posted $3.49 EPS. The PNC Financial Services Group’s revenue was down 7.0% compared to the same quarter last year. As a group, research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.41 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 5th. Investors of record on Tuesday, January 16th were issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 3.84%. The ex-dividend date was Friday, January 12th. The PNC Financial Services Group’s payout ratio is 48.48%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PNC. Stephens reiterated an “equal weight” rating and set a $138.00 price objective on shares of The PNC Financial Services Group in a report on Tuesday, December 5th. Piper Sandler raised their target price on The PNC Financial Services Group from $125.00 to $143.00 and gave the stock a “neutral” rating in a research note on Friday, December 8th. Wells Fargo & Company raised their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research note on Thursday. UBS Group raised their target price on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Finally, Evercore ISI raised their target price on The PNC Financial Services Group from $180.00 to $184.00 and gave the stock an “outperform” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $152.87.

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.