Kentucky Trust Co Purchases New Shares in The PNC Financial Services Group, Inc. (NYSE:PNC)

Kentucky Trust Co bought a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,614 shares of the financial services provider's stock, valued at approximately $3,397,000. The PNC Financial Services Group accounts for 2.0% of Kentucky Trust Co's holdings, making the stock its 9th biggest holding.

Several other large investors have also modified their holdings of PNC. International Assets Investment Management LLC grew its position in shares of The PNC Financial Services Group by 12,940.0% in the third quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider's stock valued at $99,262,000 after purchasing an additional 532,871 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of The PNC Financial Services Group by 160.9% in the third quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider's stock valued at $129,836,000 after purchasing an additional 433,178 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position 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 valued at $108,217,000 after purchasing an additional 274,186 shares during the last quarter. Toronto Dominion Bank grew its position in shares of The PNC Financial Services Group by 129.3% in the third quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider's stock valued at $82,768,000 after purchasing an additional 252,473 shares during the last quarter. Finally, Eastern Bank grew its position in shares of The PNC Financial Services Group by 1,884.1% in the third quarter. Eastern Bank now owns 248,812 shares of the financial services provider's stock valued at $45,993,000 after purchasing an additional 236,272 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Truist Financial increased their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a "hold" rating in a research report on Friday, January 17th. Stephens restated 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. Citigroup raised their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Compass Point raised their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Finally, Piper Sandler raised 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 research report on Tuesday, December 3rd. 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 company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $205.00.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction on Friday, December 20th. The shares were 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 of the company's stock, valued at approximately $100,331,082.31. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 13,662 shares of company stock valued at $2,730,549. Company insiders own 0.42% of the company's stock.

The PNC Financial Services Group Trading Down 0.8 %

Shares of PNC stock traded down $1.52 during mid-day trading on Friday, reaching $193.91. The company's stock had a trading volume of 2,362,011 shares, compared to its average volume of 2,328,230. The company's 50 day simple moving average is $197.11 and its 200-day simple moving average is $191.02. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26. 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 firm has a market capitalization of $76.94 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its 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 net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter last year, the firm posted $3.16 EPS. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

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. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio is presently 46.55%.

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.