The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Wellington Shields & Co. LLC

Wellington Shields & Co. LLC increased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,083 shares of the financial services provider’s stock after acquiring an additional 100 shares during the period. Wellington Shields & Co. LLC’s holdings in The PNC Financial Services Group were worth $980,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hughes Financial Services LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter worth about $201,000. Midwest Professional Planners LTD. grew its holdings in The PNC Financial Services Group by 3.1% during the fourth quarter. Midwest Professional Planners LTD. now owns 3,295 shares of the financial services provider’s stock worth $635,000 after acquiring an additional 100 shares during the period. Impact Capital Partners LLC purchased a new position in The PNC Financial Services Group during the fourth quarter worth approximately $216,000. Commonwealth Equity Services LLC boosted its position in The PNC Financial Services Group by 4.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 198,693 shares of the financial services provider’s stock worth $38,318,000 after purchasing an additional 8,036 shares in the last quarter. Finally, PGGM Investments boosted its position in The PNC Financial Services Group by 88.8% during the fourth quarter. PGGM Investments now owns 38,573 shares of the financial services provider’s stock worth $7,439,000 after purchasing an additional 18,145 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

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 on Friday, March 7th. The stock was sold at an average price of $178.83, for a total transaction of $222,106.86. Following the completion of the sale, the chief executive officer now owns 568,541 shares of the company’s stock, valued at $101,672,187.03. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 12,420 shares of company stock valued at $2,391,695 over the last quarter. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $172.80 on Friday. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26. The company has a market cap of $68.39 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.55 and a beta of 1.13. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50 day moving average price is $192.04 and its 200 day moving average price is $192.54.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results 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 during the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.16 earnings per share. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.70%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Analysts Set New Price Targets

PNC has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Stephens reiterated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Morgan Stanley increased 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 report on Friday, January 17th. Compass Point increased their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Truist Financial increased 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 report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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.