LPL Financial LLC Acquires 30,706 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

LPL Financial LLC boosted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 659,603 shares of the financial services provider’s stock after purchasing an additional 30,706 shares during the quarter. LPL Financial LLC’s holdings in The PNC Financial Services Group were worth $127,204,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PNC. Winch Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at about $25,000. Richardson Financial Services Inc. raised its stake in The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares during the period. Albion Financial Group UT bought a new position in The PNC Financial Services Group in the fourth quarter worth approximately $30,000. Synergy Asset Management LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. Finally, Rialto Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Up 1.7 %

NYSE:PNC opened at $176.56 on Tuesday. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26. 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 firm’s 50 day moving average is $189.70 and its 200 day moving average is $192.31. The stock has a market capitalization of $69.88 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the firm earned $3.16 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.62%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 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 business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $192.15, for a total transaction of $238,650.30. Following the sale, the chief executive officer now owns 527,555 shares of the company’s stock, valued at $101,369,693.25. The trade was a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders have sold 13,662 shares of company stock worth $2,582,789. 0.42% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PNC shares. The Goldman Sachs Group cut their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Stephens reissued an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Piper Sandler upped their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Truist Financial lifted their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Finally, Morgan Stanley increased their price objective 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $201.65.

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.