Caprock Group LLC Has $3.91 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Caprock Group LLC increased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 20,297 shares of the financial services provider’s stock after acquiring an additional 488 shares during the period. Caprock Group LLC’s holdings in The PNC Financial Services Group were worth $3,914,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Winch Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth $25,000. Albion Financial Group UT bought a new stake in The PNC Financial Services Group in the fourth quarter worth $30,000. Synergy Asset Management LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth $32,000. Valley Wealth Managers Inc. raised its holdings 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 valued at $37,000 after buying an additional 200 shares in the last quarter. Finally, Quarry LP lifted 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 worth $45,000 after buying 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 NYSE:PNC opened at $200.63 on Friday. The firm has a market capitalization of $79.60 billion, a PE ratio of 14.59, a PEG ratio of 1.64 and a beta of 1.16. 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, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26. The business’s 50 day moving average is $200.04 and its 200-day moving average is $189.44.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The firm 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 business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.16 earnings per share. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is 46.55%.

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 22nd. The shares were sold at an average price of $205.98, for a total transaction of $255,827.16. Following the sale, the chief executive officer now directly owns 535,007 shares of the company’s stock, valued at approximately $110,200,741.86. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $3,048,195.81. Following the completion of the transaction, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,171 shares of company stock valued at $5,786,210. 0.42% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on PNC. Stephens reissued an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Evercore ISI lifted their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Citigroup boosted their price objective on shares of 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. Truist Financial raised their target price on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Finally, Piper Sandler boosted their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus price target 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.