The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Perigon Wealth Management LLC

Perigon Wealth Management LLC grew its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 49.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,747 shares of the financial services provider's stock after acquiring an additional 2,912 shares during the quarter. Perigon Wealth Management LLC's holdings in The PNC Financial Services Group were worth $1,719,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. State Street Corp raised its holdings in The PNC Financial Services Group by 0.6% in the third quarter. State Street Corp now owns 17,299,381 shares of the financial services provider's stock worth $3,197,791,000 after buying an additional 100,573 shares during the last quarter. Franklin Resources Inc. lifted its position in The PNC Financial Services Group by 1.2% in the 3rd quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider's stock valued at $1,939,154,000 after acquiring an additional 123,994 shares in the last quarter. Geode Capital Management LLC boosted its stake in The PNC Financial Services Group by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider's stock valued at $1,541,155,000 after purchasing an additional 166,138 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of The PNC Financial Services Group by 1.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,950,394 shares of the financial services provider's stock worth $545,380,000 after purchasing an additional 42,887 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of The PNC Financial Services Group by 0.3% during 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 purchasing an additional 6,438 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Down 0.0 %

Shares of PNC stock traded down $0.10 during trading hours on Thursday, reaching $202.08. 1,698,302 shares of the company's stock were exchanged, compared to its average volume of 2,488,637. The stock has a market cap of $80.18 billion, a PE ratio of 14.70, a PEG ratio of 1.59 and a beta of 1.16. 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 stock's fifty day moving average price is $200.11 and its two-hundred day moving average price is $189.35. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 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 (EPS) for the quarter, topping analysts' consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $3.16 earnings per share. Research analysts predict that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have commented on PNC. Barclays lifted their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Stephens reiterated an "equal weight" rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Morgan Stanley raised their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an "underweight" rating in a research report on Friday, January 17th. The Goldman Sachs Group increased their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Finally, Truist Financial boosted their target price on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a "hold" rating in a research report on Friday, January 17th. 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's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $205.00.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $196.17, for a total value of $243,643.14. Following the completion of the transaction, the chief executive officer now owns 523,829 shares in the company, valued at $102,759,534.93. The trade was a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,413 shares of company stock valued at $6,021,569 over the last ninety days. Company insiders own 0.42% of the company's stock.

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.