Polymer Capital Management US LLC Buys Shares of 3,530 The PNC Financial Services Group, Inc. (NYSE:PNC)

Polymer Capital Management US LLC acquired a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 3,530 shares of the financial services provider's stock, valued at approximately $681,000.

Other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in The PNC Financial Services Group in the fourth quarter valued at $1,352,151,000. Schroder Investment Management Group boosted its stake in The PNC Financial Services Group by 166.1% during the fourth quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider's stock worth $265,436,000 after buying an additional 860,554 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of The PNC Financial Services Group by 10.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock valued at $1,453,763,000 after acquiring an additional 726,115 shares during the last quarter. Bank of New York Mellon Corp raised its stake 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 valued at $746,435,000 after acquiring an additional 710,311 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of The PNC Financial Services Group by 5.3% in the 4th quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider's stock worth $2,089,622,000 after acquiring an additional 549,278 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several research firms have recently commented on PNC. Citigroup lowered their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Truist Financial dropped their target price on The PNC Financial Services Group from $216.00 to $208.00 and set a "hold" rating for the company in a research report on Friday, April 4th. Barclays increased their price target on shares of 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. Morgan Stanley dropped their price objective on shares of The PNC Financial Services Group from $188.00 to $179.00 and set an "underweight" rating for the company in a report on Monday, April 7th. Finally, Wells Fargo & Company decreased their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $203.47.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $196.17, for a total transaction of $243,643.14. Following the transaction, the chief executive officer now owns 523,829 shares in the company, valued at approximately $102,759,534.93. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 12,420 shares of company stock valued at $2,276,870. 0.41% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Performance

Shares of PNC traded down $0.59 during midday trading on Friday, reaching $151.57. 3,850,177 shares of the stock were exchanged, compared to its average volume of 1,968,566. The company has a market capitalization of $59.98 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 1.55 and a beta of 1.04. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The business's 50-day moving average price is $178.30 and its 200 day moving average price is $190.17.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the company earned $3.16 earnings per share. The company's revenue was up 3.8% compared to the same quarter last year. On average, sell-side 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 4.22%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio is presently 46.55%.

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.