Pacer Advisors Inc. Increases Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Pacer Advisors Inc. lifted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,762 shares of the financial services provider's stock after acquiring an additional 2,296 shares during the quarter. Pacer Advisors Inc.'s holdings in The PNC Financial Services Group were worth $6,125,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Loomis Sayles & Co. L P grew its position in The PNC Financial Services Group by 8.7% during the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider's stock valued at $115,000 after acquiring an additional 50 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in The PNC Financial Services Group by 2.4% in the 4th 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 during the period. MFA Wealth Advisors LLC lifted its stake in The PNC Financial Services Group by 5.4% in the third quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider's stock worth $200,000 after purchasing an additional 55 shares during the last quarter. Resonant Capital Advisors LLC boosted its holdings in The PNC Financial Services Group by 0.3% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider's stock valued at $3,148,000 after acquiring an additional 56 shares during the period. Finally, Altman Advisors Inc. grew its holdings in shares of The PNC Financial Services Group by 0.5% in the third quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider's stock worth $1,942,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC traded down $0.10 during midday trading on Thursday, reaching $202.08. 1,693,424 shares of the company's stock traded hands, compared to its average volume of 2,488,251. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26. The stock has a 50 day moving average of $200.11 and a 200 day moving average of $189.35. The company has a market cap of $80.18 billion, a price-to-earnings ratio of 14.70, a P/E/G ratio of 1.59 and a beta of 1.16. 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 results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts' consensus estimates of $3.26 by $0.51. The firm 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 business's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.16 earnings per share. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio is 46.55%.

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, November 1st. The shares were sold at an average price of $189.50, for a total transaction of $235,359.00. Following the completion of the sale, the chief executive officer now owns 543,523 shares of the company's stock, valued at $102,997,608.50. The trade was a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,413 shares of company stock worth $6,021,569 in the last three months. 0.42% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PNC has been the subject of several recent analyst reports. Barclays upped 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 research note on Monday, January 6th. Piper Sandler lifted their price objective 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. Morgan Stanley upped their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a report on Friday, January 17th. Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an "underperform" rating in a report on Wednesday, October 16th. Finally, Evercore ISI upped their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Two research 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. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of "Hold" and an average target price of $205.00.

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.