DRW Securities LLC Makes New $1.87 Million Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

DRW Securities LLC bought a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,684 shares of the financial services provider’s stock, valued at approximately $1,868,000.

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

The PNC Financial Services Group Stock Down 2.4 %

PNC opened at $149.15 on Wednesday. The company’s 50-day moving average price is $181.81 and its two-hundred day moving average price is $191.00. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The stock has a market cap of $59.03 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 1.55 and a beta of 1.04.

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. As a group, equities 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend is Wednesday, April 16th. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Insider Activity 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 dated Friday, January 17th. The stock was sold at an average price of $198.00, for a total transaction of $245,916.00. Following the sale, the chief executive officer now directly owns 525,071 shares in the company, valued at $103,964,058. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders have sold 13,061 shares of company stock worth $2,420,267. 0.41% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PNC. JPMorgan Chase & Co. lowered their price objective on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Truist Financial reduced their price objective on shares of The PNC Financial Services Group from $216.00 to $208.00 and set a “hold” rating on the stock in a research note on Friday, April 4th. Hsbc Global Res raised The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. Morgan Stanley reduced their price target on The PNC Financial Services Group from $188.00 to $179.00 and set an “underweight” rating on the stock in a research report on Monday. Finally, Barclays lifted their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and an average price target of $203.47.

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.