Brooklyn FI LLC Purchases New Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Brooklyn FI LLC acquired a new position 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 Securities and Exchange Commission (SEC). The institutional investor acquired 2,060 shares of the financial services provider's stock, valued at approximately $410,000.

Several other institutional investors and hedge funds have also bought and sold shares of PNC. Winch Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. raised its position in The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. Albion Financial Group UT bought a new stake in The PNC Financial Services Group during the fourth quarter worth $30,000. Rialto Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at $32,000. Finally, Synergy Asset Management LLC bought a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $32,000. Institutional investors own 83.53% of the company's stock.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 527,555 shares in the company, valued at approximately $101,369,693.25. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 13,662 shares of company stock valued at $2,582,789 in the last ninety days. 0.42% of the stock is owned by company insiders.

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Analyst Upgrades and Downgrades

PNC has been the topic of several research analyst reports. The Goldman Sachs Group reduced their price objective on The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Piper Sandler raised their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Barclays lifted their price target on shares of 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. Truist Financial increased their price objective on shares of 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. Finally, Stephens reaffirmed an "equal weight" rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research note 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 given a buy rating to the company's stock. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of "Hold" and a consensus price target of $201.65.

The PNC Financial Services Group Trading Up 1.7 %

Shares of The PNC Financial Services Group stock traded up $2.95 during midday trading on Monday, reaching $176.56. The company had a trading volume of 2,924,435 shares, compared to its average volume of 1,762,970. The stock has a fifty day moving average price of $190.03 and a 200 day moving average price of $192.34. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26. The firm has a market cap of $69.88 billion, a PE ratio of 12.84, 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 current ratio of 0.81 and a quick 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 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the company earned $3.16 EPS. The company's revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.62%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 46.55%.

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.