Tokio Marine Asset Management Co. Ltd. Acquires 1,013 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Tokio Marine Asset Management Co. Ltd. increased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 10.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,361 shares of the financial services provider’s stock after acquiring an additional 1,013 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in The PNC Financial Services Group were worth $1,674,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PNC. BKM Wealth Management LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $26,000. Tennessee Valley Asset Management Partners bought a new position in The PNC Financial Services Group during the fourth quarter valued at $26,000. Fortitude Family Office LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at $28,000. Householder Group Estate & Retirement Specialist LLC grew its holdings in The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Finally, Palisade Asset Management LLC bought a new position in The PNC Financial Services Group during the first quarter valued at $29,000. 83.53% of the stock is owned by institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the sale, the chief executive officer now owns 568,323 shares in the company, valued at $87,061,400.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Richard Kevin Bynum sold 850 shares of the firm’s 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 directly owns 3,502 shares of the company’s stock, valued at $545,856.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $153.19, for a total value of $98,194.79. Following the transaction, the chief executive officer now directly owns 568,323 shares in the company, valued at $87,061,400.37. The disclosure for this sale can be found here. Insiders have sold 2,132 shares of company stock worth $328,809 over the last 90 days. Corporate insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

PNC has been the subject of several research reports. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Bank of America increased their price objective on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Jefferies Financial Group increased their price objective on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Finally, JPMorgan Chase & Co. cut 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 report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $159.63.

View Our Latest Report on PNC

The PNC Financial Services Group Trading Up 1.0 %

Shares of PNC stock opened at $158.00 on Monday. 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 has a market capitalization of $62.87 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15. The business’s fifty day moving average is $155.24 and its 200 day moving average is $153.14.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the business posted $3.98 earnings per share. The firm’s revenue was down 8.2% compared to the same quarter last year. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.65 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 15th will be given a dividend of $1.60 per share. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.40 dividend on an annualized basis and a yield of 4.05%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

The PNC Financial Services Group Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc. (NYSE:PNCFree Report).

Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

Receive News & Ratings for The PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.