AMJ Financial Wealth Management Invests $5.96 Million in The PNC Financial Services Group, Inc. (NYSE:PNC)

AMJ Financial Wealth Management bought a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 30,926 shares of the financial services provider's stock, valued at approximately $5,964,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PNC. Loomis Sayles & Co. L P boosted its stake in The PNC Financial Services Group by 8.7% in the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider's stock valued at $115,000 after buying an additional 50 shares in the last quarter. Baltimore Washington Financial Advisors Inc. boosted its stake in shares of The PNC Financial Services Group by 3.1% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider's stock valued at $324,000 after purchasing an additional 51 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of The PNC Financial Services Group by 2.4% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider's stock valued at $434,000 after purchasing an additional 53 shares during the last quarter. Transcend Capital Advisors LLC increased its position in The PNC Financial Services Group by 1.8% during the 4th quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider's stock worth $616,000 after purchasing an additional 55 shares in the last quarter. Finally, Altman Advisors Inc. lifted its stake in The PNC Financial Services Group by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider's stock valued at $1,942,000 after purchasing an additional 56 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Down 0.1 %

Shares of NYSE:PNC traded down $0.10 during trading on Wednesday, reaching $180.35. The stock had a trading volume of 1,547,034 shares, compared to its average volume of 2,133,043. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26. The firm's fifty day moving average is $195.06 and its 200 day moving average is $192.83. The stock has a market cap of $71.37 billion, a price-to-earnings ratio of 13.11, a P/E/G ratio of 1.55 and a beta of 1.13. 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 issued 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 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 analysts' expectations of $5.51 billion. During the same quarter in the prior year, the firm posted $3.16 earnings per share. The business's quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 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. Investors of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.55%. The PNC Financial Services Group's dividend payout ratio is currently 46.55%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $209.24, for a total transaction of $259,876.08. Following the transaction, the chief executive officer now owns 532,523 shares in the company, valued at approximately $111,425,112.52. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 13,662 shares of company stock worth $2,681,664. 0.42% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on PNC. Wells Fargo & Company boosted their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Citigroup boosted their price objective on 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. Piper Sandler increased their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Morgan Stanley lifted their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a research note on Friday, January 17th. Finally, Truist Financial upped their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a "hold" rating in a research note on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $205.00.

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.