Crowley Wealth Management Inc. acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,455 shares of the financial services provider's stock, valued at approximately $281,000.
Several other institutional investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. increased its holdings in The PNC Financial Services Group by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider's stock worth $420,621,000 after buying an additional 22,271 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of The PNC Financial Services Group by 12.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 37,096 shares of the financial services provider's stock valued at $6,857,000 after acquiring an additional 4,186 shares during the last quarter. LPL Financial LLC grew its stake in shares of The PNC Financial Services Group by 5.2% in the third quarter. LPL Financial LLC now owns 628,897 shares of the financial services provider's stock worth $116,252,000 after acquiring an additional 31,318 shares during the period. GM Advisory Group LLC purchased a new position in shares of The PNC Financial Services Group during the third quarter valued at approximately $232,000. Finally, Meridian Wealth Management LLC bought a new position in The PNC Financial Services Group during the third quarter valued at approximately $1,071,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.
The PNC Financial Services Group Price Performance
PNC stock traded down $1.82 during midday trading on Thursday, hitting $175.10. The company's stock had a trading volume of 2,324,356 shares, compared to its average volume of 1,769,777. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio 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 company has a 50 day moving average of $188.44 and a two-hundred day moving average of $192.09. The firm has a market capitalization of $69.30 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts' consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates 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 PNC Financial Services Group's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.16 earnings per share. On average, analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.
The PNC Financial Services Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.66%. The PNC Financial Services Group's dividend payout ratio (DPR) is 46.55%.
Analyst Ratings Changes
PNC has been the subject of a number of research analyst reports. Piper Sandler lifted their target price 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. Compass Point lifted their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Stephens reissued an "equal weight" rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday, January 17th. Truist Financial raised their target price on 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, The Goldman Sachs Group reduced their price target on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of "Hold" and a consensus target price of $201.65.
Get Our Latest Research Report on The PNC Financial Services Group
Insider Transactions at The PNC Financial Services Group
In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $172.00, for a total transaction of $213,624.00. Following the sale, the chief executive officer now directly owns 566,057 shares in the company, valued at $97,361,804. This represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 13,662 shares of company stock worth $2,582,789 in the last three months. Insiders own 0.42% of the company's stock.
About The PNC Financial Services Group
(
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.
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