Purkiss Capital Advisors LLC Takes Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Purkiss Capital Advisors LLC purchased a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,777 shares of the financial services provider's stock, valued at approximately $343,000.

Several other institutional investors also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 valued at $7,739,000 after purchasing an additional 8,081 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in The PNC Financial Services Group by 48.5% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider's stock valued at $5,160,000 after acquiring an additional 8,735 shares during the period. Mn Services Vermogensbeheer B.V. boosted its position in The PNC Financial Services Group by 2.0% in 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 during the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of The PNC Financial Services Group by 45.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider's stock valued at $1,185,000 after purchasing an additional 2,009 shares during the period. Finally, Root Financial Partners LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at about $346,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

NYSE PNC traded down $0.08 on Wednesday, reaching $180.37. The company had a trading volume of 2,290,819 shares, compared to its average volume of 2,153,321. The stock has a market capitalization of $71.38 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. 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 quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The firm's 50 day moving average price is $195.06 and its 200 day moving average price is $192.83.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results 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 return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.57 billion for the quarter, compared to analysts' expectations of $5.51 billion. During the same period in the previous year, the firm posted $3.16 earnings per share. The business's revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.55%. The PNC Financial Services Group's dividend payout ratio (DPR) is 46.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PNC. Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an "overweight" rating in a report on Friday, November 15th. The Goldman Sachs Group raised their target price on 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. Compass Point lifted their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. Morgan Stanley upped their price target 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. Finally, Piper Sandler lifted their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $205.00.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $209.24, for a total transaction of $259,876.08. Following the sale, the chief executive officer now owns 532,523 shares of the company's stock, valued at $111,425,112.52. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 13,662 shares of company stock worth $2,681,664. 0.42% of the stock is currently 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.