one8zero8 LLC purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,229 shares of the financial services provider's stock, valued at approximately $623,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its position in The PNC Financial Services Group by 0.6% in the third quarter. State Street Corp now owns 17,299,381 shares of the financial services provider's stock valued at $3,197,791,000 after buying an additional 100,573 shares in the last quarter. Franklin Resources Inc. boosted its position in 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 buying an additional 123,994 shares in the last quarter. Geode Capital Management LLC boosted its position in 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 buying an additional 166,138 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of The PNC Financial Services Group by 22.5% during the fourth 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of The PNC Financial Services Group by 1.5% during the third 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 purchasing an additional 42,887 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
PNC has been the topic of a number of research reports. The Goldman Sachs Group reduced their target price on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating on the stock in a research report on Wednesday. Compass Point upped 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. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an "underweight" rating in a research report on Friday, January 17th. Truist Financial upped their target price on shares of 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. Finally, Stephens reiterated 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $203.71.
Get Our Latest Stock Analysis on The PNC Financial Services Group
The PNC Financial Services Group Stock Down 0.2 %
The PNC Financial Services Group stock traded down $0.41 during mid-day trading on Thursday, reaching $173.42. The company's stock had a trading volume of 2,994,467 shares, compared to its average volume of 2,250,825. The company has a market capitalization of $68.63 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth 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 business's 50 day simple moving average is $190.77 and its 200 day simple moving average is $192.43. 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 EPS for the quarter, beating analysts' consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to analysts' expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.16 earnings per share. As a group, research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.
The PNC Financial Services Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio is currently 46.55%.
Insider Buying and Selling at The PNC Financial Services Group
In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, December 27th. The shares were sold at an average price of $193.62, for a total value of $240,476.04. Following the completion of the sale, the chief executive officer now owns 528,797 shares in the company, valued at $102,385,675.14. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 13,662 shares of company stock worth $2,604,263 over the last quarter. 0.42% of the stock is currently owned by insiders.
The PNC Financial Services Group Profile
(
Free Report)
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.
Featured Stories
Before you consider The PNC Financial Services Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and The PNC Financial Services Group wasn't on the list.
While The PNC Financial Services Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
