PNC Financial Services Group Inc. Has $287.64 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

PNC Financial Services Group Inc. raised its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 0.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,491,516 shares of the financial services provider's stock after acquiring an additional 3,258 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.38% of The PNC Financial Services Group worth $287,639,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in shares of The PNC Financial Services Group by 22.5% in the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider's stock valued at $746,435,000 after buying an additional 710,311 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of The PNC Financial Services Group by 88.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider's stock valued at $108,217,000 after buying an additional 274,186 shares during the period. Toronto Dominion Bank boosted its holdings in shares of The PNC Financial Services Group by 129.3% in the 3rd quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider's stock valued at $82,768,000 after buying an additional 252,473 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $37,587,000. Finally, KBC Group NV boosted its holdings in shares of The PNC Financial Services Group by 214.4% in the 4th quarter. KBC Group NV now owns 271,588 shares of the financial services provider's stock valued at $52,375,000 after buying an additional 185,210 shares during the period. 83.53% of the stock is currently owned by institutional investors.

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The PNC Financial Services Group Price Performance

Shares of PNC stock traded up $0.77 during midday trading on Friday, reaching $179.75. 1,853,502 shares of the company were exchanged, compared to its average volume of 2,144,114. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26. The company has a market cap of $71.14 billion, a P/E ratio of 13.07, a PEG ratio of 1.55 and a beta of 1.13. The company's 50 day moving average price is $194.20 and its two-hundred day moving average price is $192.82. 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 released 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 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 for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous year, the firm earned $3.16 EPS. The PNC Financial Services Group's revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts expect 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 issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.56%. The PNC Financial Services Group's payout ratio is currently 46.55%.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 569,783 shares of the company's stock, valued at $108,361,330.94. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 12,420 shares of company stock worth $2,421,788 in the last ninety days. 0.42% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on PNC. Piper Sandler lifted their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Truist Financial lifted their price target 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. Compass Point lifted their price target 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. Stephens reiterated an "equal weight" rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Finally, Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a research report on Friday, January 17th. Two equities 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 data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $205.00.

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.