The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Global Retirement Partners LLC

Global Retirement Partners LLC raised its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,832 shares of the financial services provider’s stock after acquiring an additional 454 shares during the quarter. Global Retirement Partners LLC’s holdings in The PNC Financial Services Group were worth $2,668,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PNC. Exchange Traded Concepts LLC acquired a new position in shares of The PNC Financial Services Group during the third quarter valued at approximately $70,000. Ledyard National Bank increased its holdings in shares of The PNC Financial Services Group by 2.8% in the third quarter. Ledyard National Bank now owns 2,350 shares of the financial services provider’s stock valued at $434,000 after purchasing an additional 64 shares during the last quarter. Foundations Investment Advisors LLC increased its holdings in shares of The PNC Financial Services Group by 5.9% in the third quarter. Foundations Investment Advisors LLC now owns 1,544 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 86 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of The PNC Financial Services Group by 49.0% in the third quarter. Sequoia Financial Advisors LLC now owns 13,519 shares of the financial services provider’s stock valued at $2,499,000 after purchasing an additional 4,446 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in shares of The PNC Financial Services Group by 2.2% in the third quarter. Signaturefd LLC now owns 7,068 shares of the financial services provider’s stock valued at $1,307,000 after purchasing an additional 155 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Piper Sandler increased their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group increased 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. Morgan Stanley increased 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. Compass Point increased their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Citigroup raised 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $205.00.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, November 29th. The stock was sold at an average price of $216.01, for a total value of $268,284.42. Following the completion of the transaction, the chief executive officer now directly owns 533,765 shares in the company, valued at approximately $115,298,577.65. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 13,662 shares of company stock worth $2,730,549. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 1.2 %

PNC opened at $194.19 on Thursday. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26. The business has a fifty day simple moving average of $196.55 and a 200-day simple moving average of $191.49. The firm has a market cap of $77.05 billion, a P/E ratio of 14.12, a P/E/G ratio of 1.56 and a beta of 1.16. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate 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 return on equity of 11.12% and a net margin of 17.10%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the business posted $3.16 earnings per share. On average, equities analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued 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 yield of 3.30%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

About The PNC Financial Services Group

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.