KBC Group NV Acquires 185,210 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

KBC Group NV boosted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 214.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 271,588 shares of the financial services provider's stock after purchasing an additional 185,210 shares during the quarter. KBC Group NV owned 0.07% of The PNC Financial Services Group worth $52,375,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fifth Third Wealth Advisors LLC raised its stake in The PNC Financial Services Group by 48.5% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider's stock worth $5,160,000 after purchasing an additional 8,735 shares in the last quarter. Concurrent Investment Advisors LLC increased its holdings in The PNC Financial Services Group by 45.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider's stock valued at $1,185,000 after buying an additional 2,009 shares during the period. BSN CAPITAL PARTNERS Ltd bought a new position in The PNC Financial Services Group in the 3rd quarter valued at about $12,548,000. Bleakley Financial Group LLC increased its holdings in The PNC Financial Services Group by 9.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider's stock valued at $2,913,000 after buying an additional 1,299 shares during the period. Finally, Vista Investment Partners LLC bought a new position in The PNC Financial Services Group in the 4th quarter valued at about $3,251,000. Institutional investors and hedge funds own 83.53% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PNC shares. The Goldman Sachs Group raised their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Piper Sandler lifted their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Citigroup lifted their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a "buy" rating in a report on Monday, November 25th. Barclays lifted their price target 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. Finally, Morgan Stanley lifted 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 research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $205.00.

The PNC Financial Services Group Trading Down 0.6 %

Shares of NYSE:PNC traded down $1.19 during trading on Tuesday, reaching $201.70. The stock had a trading volume of 1,922,376 shares, compared to its average volume of 2,558,192. The stock has a market cap of $80.03 billion, a price-to-earnings ratio of 14.67, a P/E/G ratio of 1.59 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26. The firm's fifty day moving average is $200.21 and its 200 day moving average is $189.03. 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 PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The business 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 PNC Financial Services Group's revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.16 earnings per share. As a group, equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.17%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio is presently 46.55%.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the firm's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the transaction, the director now directly owns 38,649 shares of the company's stock, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $189.29, for a total transaction of $235,098.18. Following the completion of the sale, the chief executive officer now owns 530,039 shares of the company's stock, valued at approximately $100,331,082.31. This represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,413 shares of company stock valued at $6,021,569 over the last ninety days. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Company 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.