LPL Financial LLC Raises Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

LPL Financial LLC increased its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 659,603 shares of the financial services provider's stock after purchasing an additional 30,706 shares during the quarter. LPL Financial LLC owned approximately 0.17% of The PNC Financial Services Group worth $127,204,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PNC. Loomis Sayles & Co. L P grew its holdings in The PNC Financial Services Group by 8.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider's stock worth $115,000 after acquiring an additional 50 shares during the period. Baltimore Washington Financial Advisors Inc. grew its stake in The PNC Financial Services Group by 3.1% during the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider's stock worth $324,000 after purchasing an additional 51 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in The PNC Financial Services Group by 2.4% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider's stock worth $434,000 after purchasing an additional 53 shares in the last quarter. Transcend Capital Advisors LLC lifted its stake in The PNC Financial Services Group by 1.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider's stock valued at $616,000 after buying an additional 55 shares during the period. Finally, Valmark Advisers Inc. grew its position in shares of The PNC Financial Services Group by 1.4% during the 4th quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider's stock worth $773,000 after buying an additional 56 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $192.88, for a total transaction of $239,556.96. Following the sale, the chief executive officer now owns 526,313 shares of the company's stock, valued at approximately $101,515,251.44. This represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 12,420 shares of company stock valued at $2,342,313. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Stock Down 1.1 %

NYSE:PNC traded down $1.85 on Friday, hitting $173.12. The stock had a trading volume of 118,756 shares, compared to its average volume of 1,764,201. The stock has a market cap of $68.51 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. 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's fifty day simple moving average is $188.44 and its two-hundred day simple moving average is $192.09. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion during 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 firm's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.16 earnings per share. Analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.70%. The PNC Financial Services Group's payout ratio is 46.55%.

Wall Street Analyst Weigh In

PNC has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday. Truist Financial increased their price objective on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a "hold" rating in a research report on Friday, January 17th. Compass Point upped their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Barclays increased 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. Finally, Piper Sandler upped their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $201.35.

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.