Headlands Technologies LLC Invests $397,000 in The PNC Financial Services Group, Inc. (NYSE:PNC)

Headlands Technologies LLC acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,059 shares of the financial services provider's stock, valued at approximately $397,000.

A number of other hedge funds have also bought and sold shares of the business. Principal Financial Group Inc. grew its holdings in The PNC Financial Services Group by 1.0% during 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. Hilltop Holdings Inc. lifted its holdings in The PNC Financial Services Group by 63.6% during the third quarter. Hilltop Holdings Inc. now owns 5,904 shares of the financial services provider's stock valued at $1,091,000 after purchasing an additional 2,295 shares during the last quarter. Investment Management Corp of Ontario boosted its position in The PNC Financial Services Group by 48.5% during the third quarter. Investment Management Corp of Ontario now owns 13,168 shares of the financial services provider's stock worth $2,434,000 after purchasing an additional 4,300 shares during the period. IHT Wealth Management LLC grew its stake in The PNC Financial Services Group by 39.8% in the 3rd quarter. IHT Wealth Management LLC now owns 4,511 shares of the financial services provider's stock valued at $826,000 after buying an additional 1,284 shares in the last quarter. Finally, Morse Asset Management Inc purchased a new stake in The PNC Financial Services Group during the 3rd quarter worth about $481,000. 83.53% of the stock is currently owned by institutional investors.

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Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction dated 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 in the company, valued at $103,964,058. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 13,061 shares of company stock worth $2,420,267 over the last quarter. Corporate insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PNC. Barclays upped their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. 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 report on Tuesday, December 10th. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and dropped their price objective for the company from $206.00 to $202.00 in a research note on Monday, March 31st. 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. Finally, Citigroup dropped their price target on 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, March 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $203.47.

The PNC Financial Services Group Trading Up 6.9 %

PNC stock traded up $10.34 during midday trading on Wednesday, hitting $160.10. The company had a trading volume of 5,593,753 shares, compared to its average volume of 1,949,037. 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, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26. The stock's 50 day moving average price is $180.16 and its 200 day moving average price is $190.61. The stock has a market cap of $63.36 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 1.55 and a beta of 1.04.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate 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 company's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.16 earnings per share. As a group, equities research analysts expect 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 firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group's payout ratio is 46.55%.

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.