Wayfinding Financial LLC Invests $356,000 in The PNC Financial Services Group, Inc. (NYSE:PNC)

Wayfinding Financial LLC bought a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,850 shares of the financial services provider's stock, valued at approximately $356,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PNC. State Street Corp boosted its holdings in The PNC Financial Services Group by 0.6% during the 3rd quarter. State Street Corp now owns 17,299,381 shares of the financial services provider's stock valued at $3,197,791,000 after acquiring an additional 100,573 shares during the period. Franklin Resources Inc. boosted its stake in shares of The PNC Financial Services Group by 1.2% in the third quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider's stock valued at $1,939,154,000 after purchasing an additional 123,994 shares during the period. Geode Capital Management LLC grew its holdings in shares of The PNC Financial Services Group by 2.0% in the third quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider's stock valued at $1,541,155,000 after purchasing an additional 166,138 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of The PNC Financial Services Group by 22.5% in the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider's stock valued at $746,435,000 after purchasing an additional 710,311 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in The PNC Financial Services Group by 1.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,950,394 shares of the financial services provider's stock worth $545,380,000 after buying an additional 42,887 shares during the period. Hedge funds and other institutional investors own 83.53% of the company's stock.

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The PNC Financial Services Group Stock Performance

NYSE:PNC traded up $0.30 during mid-day trading on Tuesday, reaching $176.84. The stock had a trading volume of 2,035,865 shares, compared to its average volume of 1,764,493. The firm has a market capitalization of $69.98 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 1.55 and a beta of 1.13. The business has a 50 day simple moving average of $189.33 and a 200 day simple moving average of $192.31. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. 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 (NYSE:PNC - Get Free Report) last announced 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 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 during 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 was up 3.8% compared to the same quarter last year. On average, analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share 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 paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.62%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group's payout ratio is currently 46.55%.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $192.15, for a total value of $238,650.30. Following the completion of the transaction, the chief executive officer now directly owns 527,555 shares of the company's stock, valued at $101,369,693.25. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 13,662 shares of company stock valued at $2,582,789. 0.42% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a research report on Friday, January 17th. Citigroup lowered their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Monday. Compass Point increased their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. Barclays boosted 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. Finally, Piper Sandler lifted their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of "Hold" and a consensus target price of $201.65.

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.