Jones Financial Companies Lllp Raises Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Jones Financial Companies Lllp boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 30.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,887 shares of the financial services provider's stock after purchasing an additional 6,514 shares during the quarter. Jones Financial Companies Lllp's holdings in The PNC Financial Services Group were worth $5,378,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PNC. Bank of New York Mellon Corp raised its holdings in The PNC Financial Services Group by 22.5% in the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider's stock valued at $746,435,000 after acquiring an additional 710,311 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in The PNC Financial Services Group by 88.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider's stock valued at $108,217,000 after acquiring an additional 274,186 shares in the last quarter. Toronto Dominion Bank raised its holdings in The PNC Financial Services Group by 129.3% in the 3rd quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider's stock valued at $82,768,000 after acquiring an additional 252,473 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in The PNC Financial Services Group in the 4th quarter valued at $37,587,000. Finally, KBC Group NV raised its holdings in The PNC Financial Services Group by 214.4% in the 4th quarter. KBC Group NV now owns 271,588 shares of the financial services provider's stock valued at $52,375,000 after acquiring an additional 185,210 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $209.24, for a total transaction of $259,876.08. Following the sale, the chief executive officer now owns 532,523 shares in the company, valued at $111,425,112.52. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 13,662 shares of company stock worth $2,681,664 in the last 90 days. Corporate insiders own 0.42% of the company's stock.

The PNC Financial Services Group Trading Down 0.0 %

Shares of NYSE PNC traded down $0.08 during trading on Wednesday, reaching $180.37. The company had a trading volume of 2,320,172 shares, compared to its average volume of 2,154,064. The company's fifty day moving average price is $194.79 and its 200-day moving average price is $192.75. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26. The stock has a market cap of $71.38 billion, a P/E ratio of 13.12, a PEG ratio of 1.55 and a beta of 1.13. 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 PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the company posted $3.16 EPS. The business's revenue was up 3.8% on a year-over-year basis. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given 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 3.55%. The PNC Financial Services Group's payout ratio is 46.55%.

Wall Street Analyst Weigh In

PNC has been the subject of a number of research analyst reports. Piper Sandler boosted their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. The Goldman Sachs Group boosted their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Barclays boosted their price target on 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. Stephens reissued an "equal weight" rating and set a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. Finally, Truist Financial boosted their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a "hold" rating in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $205.00.

About The PNC Financial Services Group

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.