MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $2.53 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 30.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,153 shares of the financial services provider’s stock after acquiring 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PNC. Winch Advisory Services LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at about $25,000. Albion Financial Group UT acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $30,000. Valley Wealth Managers Inc. raised its position in shares of The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth about $51,000. Finally, Quarry LP boosted its holdings in shares of The PNC Financial Services Group by 141.7% during the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after buying an additional 170 shares during the period. Institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PNC. Evercore ISI raised their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Compass Point lifted their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Piper Sandler upped 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. The Goldman Sachs Group lifted their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Citigroup raised 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 report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $197.43 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock has a market cap of $78.33 billion, a PE ratio of 14.36, a P/E/G ratio of 1.59 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26. The business’s 50-day moving average price is $200.66 and its two-hundred day moving average price is $188.08.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates 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 firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.16 EPS. As a group, analysts expect that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $189.50, for a total transaction of $235,359.00. Following the sale, the chief executive officer now directly owns 543,523 shares of the company’s stock, valued at approximately $102,997,608.50. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,171 shares of company stock worth $5,777,926 in the last 90 days. Insiders own 0.42% of the company’s stock.

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.