Millstone Evans Group LLC Takes $608,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Millstone Evans Group LLC purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,153 shares of the financial services provider's stock, valued at approximately $608,000.

Several other institutional investors have also modified their holdings of the stock. Principal Financial Group Inc. boosted its stake in The PNC Financial Services Group by 1.0% in the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider's stock valued at $420,621,000 after acquiring an additional 22,271 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in The PNC Financial Services Group by 12.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 37,096 shares of the financial services provider's stock worth $6,857,000 after buying an additional 4,186 shares during the last quarter. Citizens Financial Group Inc. RI increased its position in The PNC Financial Services Group by 1.1% during the third quarter. Citizens Financial Group Inc. RI now owns 16,354 shares of the financial services provider's stock worth $3,023,000 after buying an additional 185 shares during the period. LPL Financial LLC lifted its stake in The PNC Financial Services Group by 5.2% in the third quarter. LPL Financial LLC now owns 628,897 shares of the financial services provider's stock valued at $116,252,000 after buying an additional 31,318 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of The PNC Financial Services Group by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,440,098 shares of the financial services provider's stock valued at $451,052,000 after acquiring an additional 6,438 shares during the period. Hedge funds and other institutional investors own 83.53% of the company's stock.

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Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, December 27th. The stock was sold at an average price of $193.62, for a total value of $240,476.04. Following the completion of the transaction, the chief executive officer now directly owns 528,797 shares of the company's stock, valued at $102,385,675.14. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 13,662 shares of company stock worth $2,582,789. 0.42% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PNC shares. Compass Point lifted their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Piper Sandler lifted their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Truist Financial upped 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. The Goldman Sachs Group dropped their price target on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Finally, Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a research report on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of "Hold" and a consensus target price of $201.65.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded down $0.00 during mid-day trading on Wednesday, reaching $176.88. The stock had a trading volume of 1,846,952 shares, compared to its average volume of 1,764,833. The company has a market cap of $70.00 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. The business has a 50-day simple moving average of $189.33 and a 200 day simple moving average of $192.31.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its 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 PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the firm posted $3.16 EPS. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. On average, sell-side analysts anticipate 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 business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group's payout ratio is currently 46.55%.

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.