Certuity LLC Has $20.48 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Certuity LLC raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 106,193 shares of the financial services provider's stock after purchasing an additional 2,777 shares during the period. The PNC Financial Services Group comprises approximately 2.2% of Certuity LLC's holdings, making the stock its 11th largest holding. Certuity LLC's holdings in The PNC Financial Services Group were worth $20,479,000 as of its most recent SEC filing.

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

The PNC Financial Services Group Stock Performance

PNC stock traded down $1.52 during midday trading on Friday, hitting $193.91. The stock had a trading volume of 2,362,011 shares, 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 stock has a 50-day simple moving average of $197.11 and a 200 day simple moving average of $191.02. 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 PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data 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 PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.57 billion during the quarter, compared to analysts' expectations of $5.51 billion. During the same period last year, the business earned $3.16 earnings per share. The business's revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.3 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PNC. Truist Financial increased 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. Barclays increased their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Piper Sandler increased their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. Citigroup increased their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. Finally, Morgan Stanley increased their price target on 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. Two 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 company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $205.00.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $202.11, for a total value of $251,020.62. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 13,662 shares of company stock valued at $2,730,549 over the last ninety days. 0.42% of the stock is owned by insiders.

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.