Sanctuary Advisors LLC Boosts Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Sanctuary Advisors LLC boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 104,911 shares of the financial services provider's stock after purchasing an additional 7,003 shares during the quarter. Sanctuary Advisors LLC's holdings in The PNC Financial Services Group were worth $21,199,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Winch Advisory Services LLC bought a new position in The PNC Financial Services Group in the fourth quarter worth $25,000. Richardson Financial Services Inc. raised its holdings in The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Albion Financial Group UT bought a new position in The PNC Financial Services Group in the fourth quarter worth $30,000. Synergy Asset Management LLC bought a new position in The PNC Financial Services Group in the fourth quarter worth $32,000. Finally, Financial Life Planners bought a new position in The PNC Financial Services Group in the fourth quarter worth $37,000. Institutional investors own 83.53% of the company's stock.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $189.29, for a total transaction of $235,098.18. Following the transaction, the chief executive officer now directly owns 530,039 shares of the company's stock, valued at $100,331,082.31. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 12,420 shares of company stock valued at $2,474,722. Insiders own 0.42% of the company's stock.

The PNC Financial Services Group Stock Performance

NYSE:PNC traded down $3.99 on Friday, hitting $187.90. The stock had a trading volume of 1,991,887 shares, compared to its average volume of 2,191,146. The stock has a market cap of $74.55 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 1.57 and a beta of 1.16. 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 business's 50-day simple moving average is $196.08 and its two-hundred day simple moving average is $191.64. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced 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 business had revenue of $5.57 billion for the quarter, compared to analysts' expectations 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 business's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $3.16 earnings per share. As a group, research 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.41%. The PNC Financial Services Group's payout ratio is 46.55%.

Analysts Set New Price Targets

PNC has been the subject of several analyst reports. The Goldman Sachs Group raised their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Piper Sandler raised their price target on 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. Wells Fargo & Company raised their price target on 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. Truist Financial raised their price target on 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. Finally, Barclays raised their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Two equities research 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, The PNC Financial Services Group has an average rating of "Hold" and an average 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.