Machina Capital S.A.S. Acquires New Shares in The PNC Financial Services Group, Inc. (NYSE:PNC)

Machina Capital S.A.S. acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,377 shares of the financial services provider’s stock, valued at approximately $1,808,000. The PNC Financial Services Group comprises about 0.8% of Machina Capital S.A.S.’s portfolio, making the stock its 27th largest position.

A number of other large investors have also recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in The PNC Financial Services Group by 0.6% in the third quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock valued at $3,197,791,000 after acquiring an additional 100,573 shares during the last quarter. Franklin Resources Inc. lifted its holdings in The PNC Financial Services Group by 1.2% in the third quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock valued at $1,939,154,000 after acquiring an additional 123,994 shares during the last quarter. Geode Capital Management LLC lifted its holdings in The PNC Financial Services Group by 2.0% in the third quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock valued at $1,541,155,000 after acquiring an additional 166,138 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in The PNC Financial Services Group by 22.5% in the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock valued at $746,435,000 after acquiring an additional 710,311 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in The PNC Financial Services Group by 1.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,950,394 shares of the financial services provider’s stock valued at $545,380,000 after purchasing an additional 42,887 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $179.75 on Friday. The firm has a market capitalization of $71.14 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The business’s fifty day moving average price is $194.20 and its 200 day moving average price is $192.68. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted 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 for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.16 earnings per share. On average, sell-side analysts anticipate 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $203.06, for a total value of $252,200.52. Following the completion of the transaction, the chief executive officer now owns 531,281 shares in the company, valued at $107,881,919.86. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 12,420 shares of company stock valued at $2,421,788 over the last quarter. 0.42% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PNC has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Stephens reissued an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Piper Sandler boosted their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Compass Point boosted their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Citigroup boosted their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the company 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $205.00.

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.