Nomura Holdings Inc. Acquires Shares of 8,024 The PNC Financial Services Group, Inc. (NYSE:PNC)

Nomura Holdings Inc. acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,024 shares of the financial services provider’s stock, valued at approximately $1,243,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PNC. BKM Wealth Management LLC purchased a new position in The PNC Financial Services Group in the 4th quarter valued at about $26,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $26,000. Fortitude Family Office LLC acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $28,000. Householder Group Estate & Retirement Specialist LLC raised its stake in shares of The PNC Financial Services Group by 350.0% in the 4th 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 in the last quarter. Finally, Core Wealth Advisors Inc. acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $31,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Up 1.1 %

The PNC Financial Services Group stock opened at $154.48 on Thursday. The firm has a 50 day simple moving average of $154.70 and a 200-day simple moving average of $152.27. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $61.47 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 2.20 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business’s revenue was down 8.2% on a year-over-year basis. During the same period last year, the firm posted $3.98 earnings per share. As a group, equities research analysts expect that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s payout ratio is 52.06%.

Analysts Set New Price Targets

PNC has been the topic of a number of recent analyst reports. Bank of America upped their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Jefferies Financial Group dropped their price objective on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday, April 17th. JPMorgan Chase & Co. dropped their price objective on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. The Goldman Sachs Group increased their price objective on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Finally, StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $157.83.

Insider Buying and Selling

In related news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is currently owned by insiders.

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.