Modera Wealth Management LLC Purchases 3,354 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Modera Wealth Management LLC increased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 156,470 shares of the financial services provider's stock after buying an additional 3,354 shares during the period. Modera Wealth Management LLC's holdings in The PNC Financial Services Group were worth $30,175,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PNC. Financial Advocates Investment Management increased its holdings in shares of The PNC Financial Services Group by 5.5% in the third quarter. Financial Advocates Investment Management now owns 1,905 shares of the financial services provider's stock valued at $352,000 after purchasing an additional 99 shares during the last quarter. Congress Asset Management Co. acquired a new position in The PNC Financial Services Group in the 3rd quarter valued at about $237,000. Shepherd Financial Partners LLC raised its holdings in The PNC Financial Services Group by 8.6% in the 3rd quarter. Shepherd Financial Partners LLC now owns 2,232 shares of the financial services provider's stock valued at $413,000 after acquiring an additional 177 shares during the period. Farther Finance Advisors LLC lifted its position in The PNC Financial Services Group by 148.0% during the third quarter. Farther Finance Advisors LLC now owns 6,225 shares of the financial services provider's stock worth $1,151,000 after acquiring an additional 3,715 shares during the last quarter. Finally, Phillips Wealth Planners LLC boosted its holdings in shares of The PNC Financial Services Group by 2.2% during the third quarter. Phillips Wealth Planners LLC now owns 7,197 shares of the financial services provider's stock worth $1,367,000 after acquiring an additional 158 shares during the period. 83.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $190.18, for a total value of $236,203.56. Following the sale, the chief executive officer now owns 569,783 shares of the company's stock, valued at $108,361,330.94. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 13,662 shares of company stock valued at $2,681,664 in the last ninety days. 0.42% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of recent research reports. Citigroup raised their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Piper Sandler raised their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. Truist Financial boosted their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a "hold" rating in a research note on Friday, January 17th. Barclays raised their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company upped their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $205.00.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC traded down $0.08 during trading on Wednesday, hitting $180.37. 2,320,167 shares of the company were exchanged, compared to its average volume of 2,153,364. The PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26. The company has a market capitalization of $71.38 billion, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The business's 50 day moving average is $195.06 and its 200-day moving average is $192.83.

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 analysts' consensus estimates of $3.26 by $0.51. 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 $5.57 billion during the quarter, compared to analysts' expectations of $5.51 billion. During the same quarter in the prior year, the firm earned $3.16 EPS. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts forecast 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.55%. The PNC Financial Services Group's dividend payout ratio is presently 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.