Schear Investment Advisers LLC Purchases 1,703 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Schear Investment Advisers LLC increased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 18.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 10,927 shares of the financial services provider's stock after buying an additional 1,703 shares during the quarter. The PNC Financial Services Group accounts for approximately 1.1% of Schear Investment Advisers LLC's portfolio, making the stock its 22nd largest holding. Schear Investment Advisers LLC's holdings in The PNC Financial Services Group were worth $2,107,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Stonebridge Financial Group LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at about $899,000. Arlington Trust Co LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at about $95,000. Equitable Trust Co. lifted its holdings in The PNC Financial Services Group by 4.2% during the fourth quarter. Equitable Trust Co. now owns 2,062 shares of the financial services provider's stock valued at $398,000 after purchasing an additional 83 shares during the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at about $81,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at about $105,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $216.01, for a total value of $268,284.42. Following the completion of the sale, the chief executive officer now owns 533,765 shares of the company's stock, valued at $115,298,577.65. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 13,662 shares of company stock valued at $2,730,549 over the last quarter. 0.42% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PNC has been the topic of several analyst reports. Morgan Stanley upped their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a research report on Friday, January 17th. Compass Point upped their price target 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. Truist Financial upped their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a "hold" rating in a research report on Friday, January 17th. The Goldman Sachs Group upped their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company upped their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of "Hold" and a consensus price target of $205.00.

The PNC Financial Services Group Trading Down 0.8 %

Shares of NYSE:PNC traded down $1.52 during trading on Friday, reaching $193.91. 2,362,011 shares of the company traded hands, compared to its average volume of 2,328,230. The firm has a market capitalization of $76.94 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 1.64 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The business's fifty day moving average is $197.11 and its 200-day moving average is $191.02.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts' consensus estimates of $3.26 by $0.51. The firm 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 business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.16 earnings per share. As a group, analysts forecast that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group's payout ratio is 46.55%.

The PNC Financial Services Group Company 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.