Golden State Equity Partners Grows Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Golden State Equity Partners boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1,689.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,365 shares of the financial services provider’s stock after buying an additional 3,177 shares during the quarter. Golden State Equity Partners’ holdings in The PNC Financial Services Group were worth $649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Winch Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $25,000. Richardson Financial Services Inc. grew its position in shares of The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. Albion Financial Group UT purchased a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $30,000. Synergy Asset Management LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $32,000. Finally, Valley Wealth Managers Inc. grew its position in shares of The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $208.12, for a total value of $258,485.04. Following the transaction, the chief executive officer now owns 536,249 shares in the company, valued at approximately $111,604,141.88. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,171 shares of company stock worth $5,786,210. Company insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PNC. Stephens reiterated an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Piper Sandler lifted their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Citigroup upped their target price 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. 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. Finally, The Goldman Sachs Group raised their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $200.63 on Monday. 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 firm has a market capitalization of $79.60 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. The business’s 50-day moving average price is $199.85 and its 200-day moving average price is $189.75. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced 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 firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $3.16 earnings per share. Sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be issued a $1.60 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.19%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

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.