1,850 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Purchased by PKS Advisory Services LLC

PKS Advisory Services LLC purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,850 shares of the financial services provider’s stock, valued at approximately $357,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in The PNC Financial Services Group by 1.0% during the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock worth $420,621,000 after purchasing an additional 22,271 shares during the period. Great Valley Advisor Group Inc. raised its position in shares of The PNC Financial Services Group by 3.0% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 7,989 shares of the financial services provider’s stock worth $1,477,000 after buying an additional 230 shares during the period. Swedbank AB boosted its holdings in The PNC Financial Services Group by 0.4% in the third quarter. Swedbank AB now owns 212,137 shares of the financial services provider’s stock valued at $39,214,000 after acquiring an additional 855 shares during the last quarter. Daiwa Securities Group Inc. grew its position in The PNC Financial Services Group by 11.8% during the third quarter. Daiwa Securities Group Inc. now owns 48,511 shares of the financial services provider’s stock valued at $8,967,000 after acquiring an additional 5,135 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in The PNC Financial Services Group during the third quarter worth about $171,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $176.84 on Wednesday. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week 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 stock has a market cap of $69.98 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The stock has a 50 day moving average of $189.33 and a 200-day moving average of $192.31.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data 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 firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.16 EPS. On average, 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. Investors of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $202.11, for a total transaction of $251,020.62. Following the sale, the chief executive officer now directly owns 522,587 shares of the company’s stock, valued at approximately $105,620,058.57. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 13,662 shares of company stock valued at $2,582,789 in the last quarter. Insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

PNC has been the subject of a number of research reports. Compass Point boosted their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Truist Financial boosted their price objective on shares of 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. Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Stephens reaffirmed 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. Finally, The Goldman Sachs Group reduced their price objective on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $201.65.

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.