The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by D.A. Davidson & CO.

D.A. Davidson & CO. boosted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 18.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 130,235 shares of the financial services provider's stock after purchasing an additional 20,165 shares during the period. D.A. Davidson & CO.'s holdings in The PNC Financial Services Group were worth $25,116,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at $25,000. Richardson Financial Services Inc. lifted its position in The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after acquiring an additional 140 shares during the period. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at about $30,000. Synergy Asset Management LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $32,000. Finally, Valley Wealth Managers Inc. raised its stake in shares of The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider's stock worth $37,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Price Performance

PNC traded down $3.99 during trading on Friday, hitting $187.90. The company's stock had a trading volume of 1,991,887 shares, compared to its average volume of 2,191,146. The firm has a market capitalization of $74.55 billion, a price-to-earnings ratio of 13.67, a P/E/G ratio of 1.57 and a beta of 1.16. 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 fifty day simple moving average is $196.08 and its 200 day simple moving average is $191.64. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to analysts' expectations 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 revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.16 EPS. On average, equities research analysts forecast 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 declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.41%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 46.55%.

Insider Buying and Selling

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 31st. The stock was sold at an average price of $202.11, for a total transaction of $251,020.62. Following the completion of the sale, the chief executive officer now directly owns 522,587 shares in the company, valued at approximately $105,620,058.57. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 12,420 shares of company stock worth $2,474,722 in the last 90 days. Insiders own 0.42% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PNC. Barclays upped their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Piper Sandler upped their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. The Goldman Sachs Group raised their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a research report on Friday, January 17th. Finally, Wells Fargo & Company increased their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $205.00.

The PNC Financial Services Group Company 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.