The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 30.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,153 shares of the financial services provider’s stock after purchasing an additional 3,103 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in The PNC Financial Services Group were worth $2,532,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. McGlone Suttner Wealth Management Inc. raised its holdings in The PNC Financial Services Group by 5.2% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 2,341 shares of the financial services provider’s stock valued at $452,000 after buying an additional 116 shares in the last quarter. Brighton Jones LLC grew its position in The PNC Financial Services Group by 32.2% in the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after purchasing an additional 984 shares during the last quarter. Apeiron RIA LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $220,000. Donoghue Forlines LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at about $1,495,000. Finally, Endeavor Private Wealth Inc. bought a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $126,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $197.43 on Friday. The firm has a market capitalization of $78.33 billion, a P/E ratio of 14.36, a PEG ratio of 1.59 and a beta of 1.16. The business has a 50-day moving average of $200.66 and a 200-day moving average of $188.08. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.16 earnings per share. On average, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be paid a $1.60 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.24%. The PNC Financial Services Group’s payout ratio is 46.55%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Morgan Stanley upped their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Citigroup lifted their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Barclays increased their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Piper Sandler lifted their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Truist Financial upped their target price on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $205.00.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $208.12, for a total value of $258,485.04. Following the sale, the chief executive officer now owns 536,249 shares of the company’s stock, valued at approximately $111,604,141.88. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,171 shares of company stock worth $5,777,926 over the last ninety days. 0.42% of the stock is currently owned by corporate insiders.

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.