Jacobi Capital Management LLC Boosts Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Jacobi Capital Management LLC grew its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,551 shares of the financial services provider’s stock after purchasing an additional 165 shares during the period. Jacobi Capital Management LLC’s holdings in The PNC Financial Services Group were worth $5,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Metis Global Partners LLC grew its position in The PNC Financial Services Group by 0.4% in the fourth quarter. Metis Global Partners LLC now owns 18,585 shares of the financial services provider’s stock worth $3,584,000 after acquiring an additional 67 shares during the period. Fisher Asset Management LLC grew its position in The PNC Financial Services Group by 4.0% in the fourth quarter. Fisher Asset Management LLC now owns 3,737 shares of the financial services provider’s stock worth $721,000 after acquiring an additional 143 shares during the period. Maple Capital Management Inc. grew its position in The PNC Financial Services Group by 7.8% in the fourth quarter. Maple Capital Management Inc. now owns 6,882 shares of the financial services provider’s stock worth $1,327,000 after acquiring an additional 499 shares during the period. SVB Wealth LLC purchased a new position in The PNC Financial Services Group in the fourth quarter worth approximately $1,701,000. Finally, Fortress Financial Group LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth $268,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Up 1.9 %

The PNC Financial Services Group stock opened at $192.05 on Friday. The PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26. 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 stock has a market cap of $76.00 billion, a PE ratio of 13.97, a P/E/G ratio of 1.55 and a beta of 1.16. The stock’s fifty day moving average is $195.42 and its two-hundred day moving average is $192.32.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping 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 return on equity of 11.12% and a net margin of 17.10%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.16 earnings per share. On average, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $203.06, for a total transaction of $252,200.52. Following the transaction, the chief executive officer now owns 531,281 shares of the company’s stock, valued at approximately $107,881,919.86. 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 this hyperlink. Over the last 90 days, insiders have sold 12,420 shares of company stock valued at $2,445,461. 0.42% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research 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 stock an “underweight” rating in a research note on Friday, January 17th. The Goldman Sachs Group upped their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Truist Financial upped their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Citigroup upped their price target on 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. Finally, Stephens restated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $205.00.

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.