Meridian Wealth Management LLC Buys 89 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Meridian Wealth Management LLC raised its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,885 shares of the financial services provider’s stock after acquiring an additional 89 shares during the period. Meridian Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $1,135,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. State Street Corp lifted its stake in The PNC Financial Services Group by 0.6% during the 3rd 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 in the last quarter. Franklin Resources Inc. lifted its stake in The PNC Financial Services Group by 1.2% during the 3rd 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 in the last quarter. Geode Capital Management LLC lifted its stake in The PNC Financial Services Group by 2.0% during the 3rd 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 in the last quarter. Bank of New York Mellon Corp lifted its stake in The PNC Financial Services Group by 22.5% during the 4th 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in The PNC Financial Services Group by 1.5% during the 3rd 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 acquiring an additional 42,887 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $180.27 on Wednesday. The company has a market cap of $71.34 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock has a 50-day moving average price of $195.06 and a 200-day moving average price of $192.83. 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 released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.16 EPS. As a group, equities analysts forecast 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 business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.55%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $209.24, for a total transaction of $259,876.08. Following the transaction, the chief executive officer now directly owns 532,523 shares of the company’s stock, valued at approximately $111,425,112.52. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 13,662 shares of company stock valued at $2,681,664 in the last ninety days. Company insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Truist Financial raised their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Morgan Stanley raised their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Citigroup raised 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. Compass Point raised 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, Piper Sandler raised 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Company 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.