30,493 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Purchased by RWA Wealth Partners LLC

RWA Wealth Partners LLC bought a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 30,493 shares of the financial services provider’s stock, valued at approximately $5,881,000.

A number of other hedge funds also recently added to or reduced their stakes in PNC. Principal Financial Group Inc. lifted its holdings 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 buying an additional 22,271 shares during the period. CreativeOne Wealth LLC grew its stake in shares of The PNC Financial Services Group by 81.2% during the third quarter. CreativeOne Wealth LLC now owns 4,708 shares of the financial services provider’s stock worth $870,000 after acquiring an additional 2,110 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of The PNC Financial Services Group by 88.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock worth $108,217,000 after buying an additional 274,186 shares during the last quarter. Ironwood Investment Counsel LLC purchased a new stake in The PNC Financial Services Group during the 3rd quarter valued at about $211,000. Finally, Encompass More Asset Management purchased a new position in The PNC Financial Services Group during the 3rd quarter worth approximately $201,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wells Fargo & Company cut their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday. Truist Financial upped their price objective 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. The Goldman Sachs Group cut their target price on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Barclays increased their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $204.25.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $171.83 on Monday. 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 business has a 50 day simple moving average of $187.91 and a two-hundred day simple moving average of $192.21. The stock has a market capitalization of $68.00 billion, a P/E ratio of 12.50, a PEG ratio of 1.55 and a beta of 1.13. 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 announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share 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 company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the firm posted $3.16 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors 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 3.72%. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $192.88, for a total value of $239,556.96. Following the completion of the sale, the chief executive officer now directly owns 526,313 shares in the company, valued at $101,515,251.44. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 12,420 shares of company stock worth $2,342,313. Insiders own 0.41% of the company’s stock.

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.