The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by FIL Ltd

FIL Ltd raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 840,223 shares of the financial services provider's stock after purchasing an additional 14,285 shares during the quarter. FIL Ltd owned 0.21% of The PNC Financial Services Group worth $162,037,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $196.17, for a total transaction of $243,643.14. Following the transaction, the chief executive officer now directly owns 523,829 shares in the company, valued at approximately $102,759,534.93. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 12,420 shares of company stock valued at $2,276,870. 0.41% of the stock is currently owned by insiders.

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The PNC Financial Services Group Stock Down 0.4 %

Shares of NYSE:PNC traded down $0.59 on Friday, hitting $151.57. 3,850,177 shares of the company's stock were exchanged, compared to its average volume of 1,968,566. The PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26. The company has a market capitalization of $59.98 billion, a PE ratio of 11.02, a P/E/G ratio of 1.55 and a beta of 1.04. 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 firm's 50-day moving average is $178.30 and its 200 day moving average is $190.17.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion for 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 firm's revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.16 earnings per share. Sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be paid 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 is presently 46.55%.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of research reports. Stephens restated an "equal weight" rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Truist Financial decreased 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 note on Friday, April 4th. JPMorgan Chase & Co. dropped their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. HSBC raised shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their price target for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Finally, Barclays lifted their price objective 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, The PNC Financial Services Group currently 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.