Richard C. Young & CO. LTD. Acquires 22,271 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Richard C. Young & CO. LTD. lifted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 36.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 83,258 shares of the financial services provider's stock after acquiring an additional 22,271 shares during the quarter. The PNC Financial Services Group accounts for about 1.7% of Richard C. Young & CO. LTD.'s holdings, making the stock its 23rd biggest holding. Richard C. Young & CO. LTD.'s holdings in The PNC Financial Services Group were worth $16,056,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its position in The PNC Financial Services Group by 12,940.0% during the 3rd quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider's stock valued at $99,262,000 after purchasing an additional 532,871 shares during the period. Assenagon Asset Management S.A. boosted its stake in The PNC Financial Services Group by 160.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider's stock worth $129,836,000 after purchasing an additional 433,178 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in 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 worth $108,217,000 after purchasing an additional 274,186 shares in the last quarter. Toronto Dominion Bank lifted its stake in The PNC Financial Services Group by 129.3% during the 3rd quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider's stock valued at $82,768,000 after acquiring an additional 252,473 shares during the period. Finally, Eastern Bank lifted its stake in The PNC Financial Services Group by 1,884.1% during the 3rd quarter. Eastern Bank now owns 248,812 shares of the financial services provider's stock valued at $45,993,000 after acquiring an additional 236,272 shares during the period. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Trading Down 1.8 %

The PNC Financial Services Group stock traded down $3.68 during trading on Wednesday, hitting $195.54. The company's stock had a trading volume of 1,774,510 shares, compared to its average volume of 2,236,208. The stock has a market capitalization of $77.59 billion, a price-to-earnings ratio of 14.22, a P/E/G ratio of 1.64 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 stock's fifty day moving average is $197.92 and its 200 day moving average is $190.87. 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 earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.16 earnings per share. As a group, equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.27%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio is currently 46.55%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PNC shares. Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an "underweight" rating in a research note on Friday, January 17th. Citigroup increased their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a "buy" rating in a report on Monday, November 25th. Compass Point raised their target price 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 restated an "equal weight" rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Finally, Truist Financial lifted their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a "hold" rating in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $205.00.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $202.11, for a total transaction of $251,020.62. Following the transaction, the chief executive officer now directly owns 522,587 shares in the company, valued at $105,620,058.57. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 14,904 shares of company stock worth $2,989,034 in the last three months. 0.42% of the stock is owned by company 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.