The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB increased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 86.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,446 shares of the financial services provider's stock after buying an additional 15,962 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in The PNC Financial Services Group were worth $6,367,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PNC. ORG Partners LLC increased its stake in shares of The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider's stock valued at $26,000 after buying an additional 110 shares during the period. Y.D. More Investments Ltd acquired a new position in The PNC Financial Services Group during the second quarter worth approximately $33,000. Valley Wealth Managers Inc. increased its position in The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider's stock worth $37,000 after buying an additional 200 shares during the last quarter. GPS Wealth Strategies Group LLC acquired a new position in shares of The PNC Financial Services Group in the second quarter valued at approximately $38,000. Finally, Quarry LP grew its position in shares of The PNC Financial Services Group by 141.7% in the second quarter. Quarry LP now owns 290 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 170 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Price Performance

Shares of PNC traded down $1.27 during trading hours on Friday, reaching $201.04. 700,256 shares of the stock traded hands, compared to its average volume of 1,861,534. 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 1.22. The company has a market cap of $79.77 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15. The company's 50-day moving average price is $198.46 and its two-hundred day moving average price is $179.61.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $5.39 billion. During the same quarter in the previous year, the firm posted $3.60 EPS. The company's revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group's dividend payout ratio is presently 54.10%.

Analyst Ratings Changes

Several brokerages recently issued reports on PNC. Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Stephens upped their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. Evercore ISI upped their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Bank of America upgraded shares of The PNC Financial Services Group from a "neutral" rating to a "buy" rating and upped their price target for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Finally, Piper Sandler upped their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, The PNC Financial Services Group presently has an average rating of "Hold" and an average price target of $198.02.

Insider Buying and Selling 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 dated Friday, September 27th. The stock was sold at an average price of $183.74, for a total transaction of $228,205.08. Following the transaction, the chief executive officer now owns 549,733 shares of the company's stock, valued at $101,007,941.42. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,030 shares of company stock worth $5,873,691 over the last ninety days. Corporate 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.