Fifth Third Wealth Advisors LLC lifted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 48.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,758 shares of the financial services provider's stock after acquiring an additional 8,735 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in The PNC Financial Services Group were worth $5,160,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Parallel Advisors LLC grew its holdings in The PNC Financial Services Group by 8.4% in the second quarter. Parallel Advisors LLC now owns 3,594 shares of the financial services provider's stock valued at $559,000 after purchasing an additional 277 shares during the period. Oppenheimer Asset Management Inc. lifted its position in shares of The PNC Financial Services Group by 5.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 24,146 shares of the financial services provider's stock valued at $3,754,000 after buying an additional 1,236 shares in the last quarter. WINTON GROUP Ltd grew its stake in The PNC Financial Services Group by 32.3% in the 2nd quarter. WINTON GROUP Ltd now owns 6,453 shares of the financial services provider's stock valued at $1,003,000 after acquiring an additional 1,576 shares during the period. Brown Brothers Harriman & Co. increased its holdings in The PNC Financial Services Group by 5.6% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 21,914 shares of the financial services provider's stock worth $3,407,000 after acquiring an additional 1,159 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in The PNC Financial Services Group by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider's stock worth $346,926,000 after acquiring an additional 100,993 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.
The PNC Financial Services Group Trading Up 2.2 %
NYSE:PNC traded up $4.36 on Wednesday, hitting $200.07. The stock had a trading volume of 3,426,722 shares, compared to its average volume of 2,155,396. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock has a market cap of $79.38 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 2.11 and a beta of 1.16. The company has a fifty day moving average price of $201.75 and a two-hundred day moving average price of $186.58. 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 released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.30 by $0.19. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.60 EPS. Equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 54.10%.
Analyst Upgrades and Downgrades
PNC has been the topic of several research analyst reports. Evercore ISI lifted their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. The Goldman Sachs Group raised their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Truist Financial began coverage on The PNC Financial Services Group in a research note on Tuesday, January 7th. They set a "hold" rating and a $215.00 price objective for the company. Stephens increased their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an "equal weight" rating in a report on Wednesday, October 16th. Finally, Compass Point lifted their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $203.29.
Check Out Our Latest Report on The PNC Financial Services Group
Insider Buying and Selling
In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the transaction, the director now owns 915 shares of the company's stock, valued at $170,299.80. This trade represents a 48.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $190.27, for a total transaction of $236,315.34. Following the completion of the sale, the chief executive officer now directly owns 544,765 shares in the company, valued at $103,652,436.55. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,272 shares of company stock valued at $6,164,890. 0.42% of the stock is currently owned by insiders.
The PNC Financial Services Group Profile
(
Free Report)
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.
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