Trust Point Inc. Boosts Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Trust Point Inc. lifted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,604 shares of the financial services provider’s stock after buying an additional 134 shares during the quarter. Trust Point Inc.’s holdings in The PNC Financial Services Group were worth $502,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $25,000. Richardson Financial Services Inc. grew its holdings in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares in the last quarter. Albion Financial Group UT purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $30,000. Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $32,000. Finally, Financial Life Planners acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth approximately $37,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Up 0.0 %

Shares of NYSE:PNC opened at $198.99 on Thursday. 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 company has a fifty day simple moving average of $199.25 and a 200 day simple moving average of $190.14. The firm has a market cap of $78.96 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. 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 issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates 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 firm earned $3.16 earnings per share. On average, equities research analysts anticipate 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 declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.22%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction 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 sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $202.11, for a total transaction of $251,020.62. Following the sale, the chief executive officer now owns 522,587 shares of the company’s stock, valued at approximately $105,620,058.57. The trade was a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,413 shares of company stock worth $6,037,230 over the last 90 days. Insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PNC shares. Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Stephens reissued an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Piper Sandler raised 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. Evercore ISI raised their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Citigroup raised their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $205.00.

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.