Independent Solutions Wealth Management LLC Purchases 5,808 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Independent Solutions Wealth Management LLC grew its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 452.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,092 shares of the financial services provider's stock after buying an additional 5,808 shares during the period. Independent Solutions Wealth Management LLC's holdings in The PNC Financial Services Group were worth $1,368,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Winch Advisory Services LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at $25,000. Richardson Financial Services Inc. lifted 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 purchasing an additional 140 shares during the period. Albion Financial Group UT acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $30,000. Synergy Asset Management LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at about $32,000. Finally, Rialto Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $32,000. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PNC has been the subject of several recent analyst reports. Compass Point raised their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Barclays raised their price target 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. The Goldman Sachs Group cut their price objective on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. Piper Sandler raised their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Finally, Truist Financial upped their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a "hold" rating in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of "Hold" and an average price target of $201.65.

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The PNC Financial Services Group Stock Up 0.2 %

Shares of NYSE PNC traded up $0.30 during trading on Tuesday, hitting $176.84. The stock had a trading volume of 2,035,865 shares, compared to its average volume of 1,761,982. The firm has a fifty day moving average of $189.70 and a two-hundred day moving average of $192.31. The company has a market capitalization of $69.98 billion, a PE ratio of 12.86, a PEG ratio of 1.55 and a beta of 1.13. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the firm posted $3.16 EPS. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. As a group, 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors 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 dividend on an annualized basis and a yield of 3.62%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 46.55%.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $192.15, for a total value of $238,650.30. Following the transaction, the chief executive officer now directly owns 527,555 shares of the company's stock, valued at approximately $101,369,693.25. The trade was a 0.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, 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.