AssuredPartners Investment Advisors LLC Makes New Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

AssuredPartners Investment Advisors LLC bought a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 3,830 shares of the financial services provider's stock, valued at approximately $739,000.

Several other hedge funds also recently made changes to their positions in PNC. Mirae Asset Global Investments Co. Ltd. lifted its holdings in The PNC Financial Services Group by 25.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider's stock worth $7,739,000 after acquiring an additional 8,081 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its position in The PNC Financial Services Group by 48.5% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider's stock valued at $5,160,000 after purchasing an additional 8,735 shares during the period. Mn Services Vermogensbeheer B.V. grew its stake in The PNC Financial Services Group by 2.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider's stock worth $30,202,000 after buying an additional 3,100 shares during the last quarter. PKS Advisory Services LLC bought a new position in The PNC Financial Services Group during the 4th quarter worth $357,000. Finally, Root Financial Partners LLC bought a new stake in The PNC Financial Services Group in the fourth quarter valued at $346,000. Institutional investors and hedge funds own 83.53% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PNC. Piper Sandler upped 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 report on Tuesday, December 3rd. HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and dropped their price target for the company from $206.00 to $202.00 in a research note on Monday. Wells Fargo & Company decreased their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a report on Friday. Barclays raised their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Finally, The Goldman Sachs Group reduced their price objective on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating for the company in a report on Wednesday, March 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $204.12.

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The PNC Financial Services Group Trading Down 0.1 %

Shares of NYSE:PNC traded down $0.24 during midday trading on Tuesday, reaching $175.53. The company had a trading volume of 489,857 shares, compared to its average volume of 1,876,748. 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 1-year low of $143.52 and a 1-year high of $216.26. The firm has a market cap of $69.46 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The company has a fifty day simple moving average of $187.46 and a two-hundred day simple moving average of $192.20.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate 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 firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $3.16 earnings per share. Research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. 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 3.65%. The PNC Financial Services Group's dividend payout ratio is 46.55%.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $172.00, for a total value of $213,624.00. Following the transaction, the chief executive officer now owns 566,057 shares in the company, valued at $97,361,804. This represents a 0.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 12,420 shares of company stock valued at $2,342,313. Company insiders own 0.41% of the company's stock.

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.