Harvest Fund Management Co. Ltd Grows Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Harvest Fund Management Co. Ltd grew its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 161.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,425 shares of the financial services provider's stock after acquiring an additional 1,499 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in The PNC Financial Services Group were worth $468,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PNC. Principal Financial Group Inc. increased its holdings in shares of The PNC Financial Services Group by 1.0% in the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider's stock valued at $420,621,000 after purchasing an additional 22,271 shares during the period. Thrivent Financial for Lutherans increased its stake in The PNC Financial Services Group by 12.7% in 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 buying an additional 4,186 shares during the period. Citizens Financial Group Inc. RI raised its position in The PNC Financial Services Group by 1.1% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 16,354 shares of the financial services provider's stock worth $3,023,000 after buying an additional 185 shares during the last quarter. LPL Financial LLC raised its position in The PNC Financial Services Group by 5.2% during the 3rd quarter. LPL Financial LLC now owns 628,897 shares of the financial services provider's stock worth $116,252,000 after buying an additional 31,318 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of The PNC Financial Services Group by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,440,098 shares of the financial services provider's stock valued at $451,052,000 after acquiring an additional 6,438 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PNC shares. Citigroup reduced their price objective on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a research report on Monday. Stephens restated an "equal weight" rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Piper Sandler increased their price objective on 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 upped their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Finally, Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $201.65.

The PNC Financial Services Group Trading Down 0.0 %

NYSE PNC traded down $0.00 during mid-day trading on Wednesday, reaching $176.88. 1,846,952 shares of the stock were exchanged, compared to its average volume of 2,308,820. The business's fifty day simple moving average is $189.33 and its 200 day simple moving average is $192.31. 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 stock has a market capitalization of $70.00 billion, a PE ratio of 12.86, a PEG ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts' consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the business earned $3.16 earnings per share. The business's revenue for the quarter was up 3.8% on a year-over-year basis. On average, research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued 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 3.62%. The PNC Financial Services Group's payout ratio is currently 46.55%.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $172.00, for a total value of $213,624.00. Following the transaction, the chief executive officer now directly owns 566,057 shares of the company's stock, valued at approximately $97,361,804. This trade represents a 0.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 13,662 shares of company stock valued at $2,582,789. Insiders own 0.42% of the company's stock.

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.