The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC lifted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 417.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 356,981 shares of the financial services provider's stock after purchasing an additional 288,050 shares during the period. Kovitz Investment Group Partners LLC owned 0.09% of The PNC Financial Services Group worth $68,844,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Burling Wealth Partners LLC bought a new position in The PNC Financial Services Group in the 4th quarter worth $299,000. Evercore Wealth Management LLC boosted its holdings in The PNC Financial Services Group by 1.8% in the 4th quarter. Evercore Wealth Management LLC now owns 8,532 shares of the financial services provider's stock worth $1,645,000 after buying an additional 152 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in The PNC Financial Services Group by 560.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 87,691 shares of the financial services provider's stock worth $16,912,000 after buying an additional 74,416 shares during the period. MGO One Seven LLC boosted its holdings in shares of The PNC Financial Services Group by 8.9% during the 4th quarter. MGO One Seven LLC now owns 21,748 shares of the financial services provider's stock valued at $4,194,000 after purchasing an additional 1,771 shares during the last quarter. Finally, Alta Advisers Ltd boosted its holdings in shares of The PNC Financial Services Group by 15.5% during the 4th quarter. Alta Advisers Ltd now owns 1,270 shares of the financial services provider's stock valued at $245,000 after purchasing an additional 170 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Up 0.8 %

NYSE:PNC traded up $1.34 during mid-day trading on Monday, hitting $159.80. 1,917,476 shares of the company's stock traded hands, compared to its average volume of 1,998,910. The company has a fifty day moving average of $169.74 and a 200 day moving average of $188.32. The PNC Financial Services Group, Inc. has a twelve month low of $145.12 and a twelve month high of $216.26. The company has a market capitalization of $63.24 billion, a P/E ratio of 11.62, a P/E/G ratio of 1.55 and a beta of 1.04. 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 announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. On average, analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 4.01%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio is currently 45.20%.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $202.11, for a total value of $251,020.62. Following the completion of the sale, the chief executive officer now owns 522,587 shares of the company's stock, valued at approximately $105,620,058.57. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 13,061 shares of company stock worth $2,274,222 over the last three months. Insiders own 0.41% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a report on Wednesday, April 16th. Truist Financial dropped their price objective on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Royal Bank of Canada dropped their price objective on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Barclays dropped their price objective on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $200.88.

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.