HB Wealth Management LLC Buys 5,182 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

HB Wealth Management LLC boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 13.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,056 shares of the financial services provider's stock after acquiring an additional 5,182 shares during the quarter. HB Wealth Management LLC's holdings in The PNC Financial Services Group were worth $8,303,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its stake in shares of 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 worth $99,262,000 after acquiring an additional 532,871 shares during the period. Assenagon Asset Management S.A. lifted its holdings in The PNC Financial Services Group by 160.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider's stock valued at $129,836,000 after purchasing an additional 433,178 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in The PNC Financial Services Group by 152.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider's stock worth $71,163,000 after purchasing an additional 276,200 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of The PNC Financial Services Group by 88.1% in the third 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 purchasing an additional 274,186 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of The PNC Financial Services Group by 5,419.9% in the second quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider's stock valued at $40,277,000 after purchasing an additional 254,356 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Trading Up 0.9 %

NYSE:PNC traded up $1.82 on Friday, reaching $198.36. 4,465,710 shares of the stock traded hands, compared to its average volume of 1,593,872. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26. The company's 50 day moving average is $201.40 and its 200-day moving average is $187.23. The firm has a market capitalization of $78.71 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16.

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 for the quarter, topping analysts' consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The PNC Financial Services Group's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.16 earnings per share. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.47 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.23%. The PNC Financial Services Group's payout ratio is 54.10%.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of research reports. Evercore ISI upped their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Citigroup upped their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a "buy" rating in a research report on Monday, November 25th. Stephens reissued an "equal weight" rating and set a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday. The Goldman Sachs Group upped their price objective 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. 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 report on Friday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of "Hold" and an average target price of $205.00.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $192.88, for a total transaction of $239,556.96. Following the transaction, the chief executive officer now owns 526,313 shares of the company's stock, valued at $101,515,251.44. This represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Martin Pfinsgraff sold 859 shares of the company's stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the transaction, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. This trade represents a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,030 shares of company stock valued at $5,928,202 over the last 90 days. Company insiders own 0.42% of the company's stock.

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.