Truist Financial Corp Grows Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Truist Financial Corp grew its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 1.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,132,634 shares of the financial services provider's stock after buying an additional 15,246 shares during the period. Truist Financial Corp owned approximately 0.29% of The PNC Financial Services Group worth $218,429,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new stake in shares of The PNC Financial Services Group during the third quarter worth $70,000. Creative Planning grew its holdings in The PNC Financial Services Group by 8.7% during the 3rd quarter. Creative Planning now owns 75,927 shares of the financial services provider's stock worth $14,035,000 after acquiring an additional 6,055 shares during the last quarter. Aaron Wealth Advisors LLC bought a new stake in The PNC Financial Services Group during the 3rd quarter worth approximately $258,000. Stratos Wealth Partners LTD. grew its holdings in The PNC Financial Services Group by 13.1% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 45,320 shares of the financial services provider's stock worth $8,377,000 after acquiring an additional 5,261 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of The PNC Financial Services Group by 20.1% in the 3rd quarter. Blue Trust Inc. now owns 4,308 shares of the financial services provider's stock valued at $796,000 after purchasing an additional 722 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $216.01, for a total transaction of $268,284.42. Following the transaction, the chief executive officer now owns 533,765 shares in the company, valued at approximately $115,298,577.65. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 13,662 shares of company stock worth $2,730,549. Company insiders own 0.42% of the company's stock.

The PNC Financial Services Group Trading Down 1.2 %

NYSE:PNC traded down $2.32 during midday trading on Thursday, reaching $191.89. 1,770,473 shares of the stock traded hands, compared to its average volume of 2,197,184. The company has a fifty day moving average of $196.55 and a 200 day moving average of $191.49. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $76.14 billion, a P/E ratio of 13.96, a PEG ratio of 1.59 and a beta of 1.16.

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 business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.16 EPS. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio (DPR) is 46.55%.

Analyst Ratings Changes

A number of research firms recently issued reports on PNC. The Goldman Sachs Group boosted their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Barclays upped their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Compass Point increased their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Citigroup increased their price target on shares of 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. Finally, Morgan Stanley increased their price target on shares of 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. Two 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. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $205.00.

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.