Metis Global Partners LLC Has $3.58 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Metis Global Partners LLC raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.4% during the fourth quarter, Holdings Channel reports. The firm owned 18,585 shares of the financial services provider’s stock after purchasing an additional 67 shares during the period. Metis Global Partners LLC’s holdings in The PNC Financial Services Group were worth $3,584,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PNC. Bank of New York Mellon Corp lifted its position in shares of The PNC Financial Services Group by 22.5% in the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock worth $746,435,000 after purchasing an additional 710,311 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of The PNC Financial Services Group by 88.1% in the 3rd 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 purchasing an additional 274,186 shares during the period. Toronto Dominion Bank lifted its position in shares of The PNC Financial Services Group by 129.3% in the 3rd quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider’s stock worth $82,768,000 after purchasing an additional 252,473 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $37,587,000. Finally, KBC Group NV lifted its position in shares of The PNC Financial Services Group by 214.4% in the 4th quarter. KBC Group NV now owns 271,588 shares of the financial services provider’s stock worth $52,375,000 after purchasing an additional 185,210 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $189.29, for a total value of $235,098.18. Following the transaction, the chief executive officer now owns 530,039 shares in the company, valued at $100,331,082.31. The trade was a 0.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 12,420 shares of company stock worth $2,445,461 in the last 90 days. Insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PNC shares. The Goldman Sachs Group boosted their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Barclays lifted their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Truist Financial lifted their price objective on shares of 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. Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. 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 research note on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Price Performance

PNC stock opened at $192.05 on Friday. The company has a market capitalization of $76.00 billion, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. 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 PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26. The business has a 50-day simple moving average of $195.42 and a two-hundred day simple moving average of $192.49.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate 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 company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.16 EPS. Research analysts expect 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 announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.33%. The PNC Financial Services Group’s payout ratio is presently 46.55%.

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.