Commonwealth Equity Services LLC Has $38.32 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Commonwealth Equity Services LLC lifted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 198,693 shares of the financial services provider's stock after acquiring an additional 8,036 shares during the period. Commonwealth Equity Services LLC owned about 0.05% of The PNC Financial Services Group worth $38,318,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp increased its position in The PNC Financial Services Group by 22.5% in the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider's stock worth $746,435,000 after buying an additional 710,311 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. Proficio Capital Partners LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter worth $37,587,000. Finally, KBC Group NV increased its position in The PNC Financial Services Group by 214.4% in the fourth quarter. KBC Group NV now owns 271,588 shares of the financial services provider's stock worth $52,375,000 after buying an additional 185,210 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

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The PNC Financial Services Group Stock Up 0.3 %

Shares of PNC traded up $0.51 during midday trading on Wednesday, reaching $173.86. 2,884,403 shares of the stock were exchanged, compared to its average volume of 2,233,512. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. The firm has a 50 day simple moving average of $191.18 and a 200-day simple moving average of $192.56. 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 company has a market cap of $68.81 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 1.55 and a beta 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 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 business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the business earned $3.16 EPS. The firm's revenue was up 3.8% compared to the same quarter last year. Research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed 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 dividend yield of 3.68%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group's payout ratio is 46.55%.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $193.62, for a total value of $240,476.04. Following the transaction, the chief executive officer now directly owns 528,797 shares of the company's stock, valued at approximately $102,385,675.14. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 13,662 shares of company stock valued at $2,604,263. Corporate insiders own 0.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PNC shares. 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, January 17th. Morgan Stanley raised their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a report on Friday, January 17th. Citigroup raised their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a "buy" rating in a report on Monday, November 25th. The Goldman Sachs Group lowered their price target on The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating on the stock in a report on Wednesday. Finally, Piper Sandler raised their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of "Hold" and a consensus target price of $203.71.

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.