DRW Securities LLC Invests $1.87 Million in The PNC Financial Services Group, Inc. (NYSE:PNC)

DRW Securities LLC acquired a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,684 shares of the financial services provider's stock, valued at approximately $1,868,000.

A number of other institutional investors also recently bought and sold shares of the company. Baltimore Washington Financial Advisors Inc. grew its position in shares of The PNC Financial Services Group by 3.1% in the fourth 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 during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased 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 worth $434,000 after buying an additional 53 shares during the last quarter. Transcend Capital Advisors LLC raised its holdings in shares of The PNC Financial Services Group by 1.8% in 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 during the period. Valmark Advisers Inc. raised its holdings in The PNC Financial Services Group by 1.4% in the fourth quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider's stock valued at $773,000 after buying an additional 56 shares during the period. Finally, Gilbert & Cook Inc. lifted its holdings in shares of The PNC Financial Services Group by 2.1% during the 4th quarter. Gilbert & Cook Inc. now owns 2,787 shares of the financial services provider's stock valued at $537,000 after acquiring an additional 58 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $198.00, for a total transaction of $245,916.00. Following the transaction, the chief executive officer now owns 525,071 shares of the company's stock, valued at approximately $103,964,058. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 12,420 shares of company stock valued at $2,276,870 over the last 90 days. 0.41% of the stock is currently owned by company insiders.

The PNC Financial Services Group Trading Down 0.4 %

Shares of PNC stock traded down $0.59 during trading hours on Friday, reaching $151.57. 3,850,177 shares of the stock traded hands, compared to its average volume of 1,968,566. 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 firm has a market capitalization of $59.98 billion, a PE ratio of 11.02, a PEG ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26. The business has a fifty day moving average price of $178.30 and a 200 day moving average price of $190.17.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $5.51 billion. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business 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 year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 4.22%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 46.55%.

Analysts Set New Price Targets

PNC has been the subject of a number of analyst reports. HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and decreased their price target for the stock from $206.00 to $202.00 in a report on Monday, March 31st. Stephens reiterated an "equal weight" rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. JPMorgan Chase & Co. dropped their price objective on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Truist Financial dropped their target price on The PNC Financial Services Group from $216.00 to $208.00 and set a "hold" rating on the stock in a research report on Friday, April 4th. Finally, Citigroup decreased their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of "Hold" and an average target price of $203.47.

The PNC Financial Services Group 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.