Hager Investment Management Services LLC Acquires New Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Hager Investment Management Services LLC purchased a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,645 shares of the financial services provider’s stock, valued at approximately $510,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC lifted its stake in The PNC Financial Services Group by 48.5% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock worth $5,160,000 after purchasing an additional 8,735 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in The PNC Financial Services Group by 45.6% during the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after purchasing an additional 2,009 shares during the last quarter. BSN CAPITAL PARTNERS Ltd bought a new stake in The PNC Financial Services Group during the third quarter worth about $12,548,000. Bleakley Financial Group LLC lifted its stake in The PNC Financial Services Group by 9.0% during the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock worth $2,913,000 after purchasing an additional 1,299 shares during the last quarter. Finally, Vista Investment Partners LLC bought a new stake in The PNC Financial Services Group during the fourth quarter worth about $3,251,000. Institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PNC shares. Morgan Stanley lifted their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Barclays lifted their price objective on 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. Citigroup lifted their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Piper Sandler lifted their price objective on 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. Finally, Wells Fargo & Company lifted their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Two equities research 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’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus target price of $205.00.

Insider Transactions at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $202.11, for a total value of $251,020.62. Following the completion of the sale, the chief executive officer now directly owns 522,587 shares in the company, valued at approximately $105,620,058.57. This represents a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,413 shares of company stock valued at $6,037,230 in the last ninety days. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $199.14 on Wednesday. The stock’s 50 day simple moving average is $199.55 and its two-hundred day simple moving average is $189.97. 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 cap of $79.01 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.63 and a beta of 1.16. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.51. The business 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 business’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.16 EPS. As a group, analysts expect that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be given a $1.60 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.21%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

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.