The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 60.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,843 shares of the financial services provider's stock after acquiring an additional 7,074 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in The PNC Financial Services Group were worth $3,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. lifted its holdings in The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after buying an additional 140 shares during the period. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group during the fourth quarter worth $30,000. Synergy Asset Management LLC bought a new stake in The PNC Financial Services Group during the 4th quarter valued at $32,000. Finally, Valley Wealth Managers Inc. increased its holdings in shares of The PNC Financial Services Group by 20,000.0% in the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 83.53% of the company's stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of recent research reports. Stephens reaffirmed an "equal weight" rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Truist Financial raised their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a "hold" rating in a report on Friday, January 17th. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an "underweight" rating in a research report on Friday, January 17th. Barclays increased their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Finally, The Goldman Sachs Group lifted their price target on shares of 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $205.00.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $209.24, for a total transaction of $259,876.08. Following the completion of the transaction, the chief executive officer now directly owns 532,523 shares in the company, valued at $111,425,112.52. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 12,420 shares of company stock valued at $2,474,722 in the last ninety days. Insiders own 0.42% of the company's stock.

The PNC Financial Services Group Stock Performance

PNC stock traded down $3.99 during midday trading on Friday, reaching $187.90. The stock had a trading volume of 1,991,887 shares, compared to its average volume of 2,191,146. 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 firm has a fifty day simple moving average of $196.08 and a two-hundred day simple moving average of $191.64. The stock has a market cap of $74.55 billion, a PE ratio of 13.67, a P/E/G ratio of 1.57 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to analysts' expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $3.16 earnings per share. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.41%. The ex-dividend date was Wednesday, January 15th. 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.