The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by PGGM Investments

PGGM Investments increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 88.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,573 shares of the financial services provider's stock after buying an additional 18,145 shares during the period. PGGM Investments' holdings in The PNC Financial Services Group were worth $7,439,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. HBK Sorce Advisory LLC increased its stake in The PNC Financial Services Group by 1.3% during the 4th quarter. HBK Sorce Advisory LLC now owns 19,030 shares of the financial services provider's stock worth $3,670,000 after buying an additional 246 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in The PNC Financial Services Group by 37.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 108,931 shares of the financial services provider's stock worth $20,972,000 after buying an additional 29,700 shares during the period. Erste Asset Management GmbH purchased a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $6,423,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in The PNC Financial Services Group by 3.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,782 shares of the financial services provider's stock worth $4,008,000 after acquiring an additional 653 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its holdings in The PNC Financial Services Group by 2.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 54,475 shares of the financial services provider's stock worth $10,506,000 after acquiring an additional 1,328 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several research firms have commented on PNC. Barclays boosted their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Stephens reiterated an "equal weight" rating and set a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. Compass Point boosted their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. The Goldman Sachs Group boosted their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Finally, Truist Financial boosted their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a "hold" rating in a 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 stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $205.00.

The PNC Financial Services Group Stock Performance

NYSE:PNC traded down $0.80 during trading hours on Tuesday, reaching $173.20. 4,219,487 shares of the company's stock were exchanged, compared to its average volume of 2,219,105. The firm has a market capitalization of $68.54 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 1.55 and a beta of 1.13. The company has a 50-day moving average of $191.61 and a 200 day moving average of $192.65. 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 PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share 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 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 PNC Financial Services Group's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.16 EPS. Research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.70%. The PNC Financial Services Group's payout ratio is currently 46.55%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction on Friday, December 27th. The shares were sold at an average price of $193.62, for a total transaction of $240,476.04. Following the completion of the transaction, the chief executive officer now owns 528,797 shares in the company, valued at approximately $102,385,675.14. This represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 13,662 shares of company stock worth $2,604,263. 0.42% of the stock is owned by insiders.

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.