Mystic Asset Management Inc. Has $2.38 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Mystic Asset Management Inc. lifted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 152.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,334 shares of the financial services provider's stock after purchasing an additional 7,439 shares during the period. Mystic Asset Management Inc.'s holdings in The PNC Financial Services Group were worth $2,379,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of The PNC Financial Services Group by 25.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider's stock worth $7,739,000 after purchasing an additional 8,081 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its position in shares of The PNC Financial Services Group by 48.5% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider's stock worth $5,160,000 after purchasing an additional 8,735 shares in the last quarter. Mn Services Vermogensbeheer B.V. lifted its position in shares of The PNC Financial Services Group by 2.0% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider's stock worth $30,202,000 after purchasing an additional 3,100 shares in the last quarter. Root Financial Partners LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $346,000. Finally, Truist Financial Corp lifted its holdings in The PNC Financial Services Group by 1.4% in the fourth quarter. Truist Financial Corp now owns 1,132,634 shares of the financial services provider's stock valued at $218,429,000 after buying an additional 15,246 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 on Friday, March 14th. The shares were sold at an average price of $171.15, for a total transaction of $212,568.30. Following the completion of the transaction, the chief executive officer now owns 567,299 shares in the company, valued at approximately $97,093,223.85. This represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 12,420 shares of company stock worth $2,369,165. 0.42% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PNC. Citigroup increased their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a "buy" rating in a report on Monday, November 25th. Truist Financial increased their price objective 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. The Goldman Sachs Group cut their price objective on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating on the stock in a report on Wednesday. Barclays increased their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Finally, Compass Point increased their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Two 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $203.71.

The PNC Financial Services Group Stock Down 0.0 %

Shares of PNC stock traded down $0.06 during trading hours on Friday, hitting $173.35. 5,500,275 shares of the company were exchanged, compared to its average volume of 1,757,655. The business has a 50 day moving average of $190.03 and a two-hundred day moving average of $192.22. 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 52 week low of $143.52 and a 52 week high of $216.26. The company has a market capitalization of $68.60 billion, a PE ratio of 12.61, a PEG ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued 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 PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the firm earned $3.16 earnings per share. The firm's revenue was up 3.8% compared to the same quarter last year. Analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.69%. 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.