Onefund LLC Purchases New Shares in The PNC Financial Services Group, Inc. (NYSE:PNC)

Onefund LLC purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,053 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other institutional investors have also added to or reduced their stakes in PNC. Diversify Advisory Services LLC boosted its stake in The PNC Financial Services Group by 5.2% in the 3rd quarter. Diversify Advisory Services LLC now owns 2,053 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 102 shares during the period. Financial Advocates Investment Management lifted its position in shares of The PNC Financial Services Group by 5.5% during the 3rd quarter. Financial Advocates Investment Management now owns 1,905 shares of the financial services provider’s stock valued at $352,000 after acquiring an additional 99 shares during the period. Catalyst Financial Partners LLC bought a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at $234,000. Congress Asset Management Co. bought a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at $237,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. lifted its position in shares of The PNC Financial Services Group by 24.4% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 138,231 shares of the financial services provider’s stock valued at $25,552,000 after acquiring an additional 27,124 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $209.24, for a total value of $259,876.08. Following the transaction, the chief executive officer now owns 532,523 shares in the company, valued at approximately $111,425,112.52. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 12,420 shares of company stock worth $2,445,461. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Up 1.9 %

NYSE PNC opened at $192.05 on Friday. The business has a 50 day simple moving average of $195.42 and a 200 day simple moving average of $192.32. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26. The stock has a market capitalization of $76.00 billion, a P/E ratio of 13.97, a P/E/G ratio of 1.55 and a beta of 1.16. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion for 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 quarter in the prior year, the company earned $3.16 earnings per share. Research 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.33%. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PNC. Piper Sandler upped their target price 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 company a “buy” rating in a research report on Monday, November 25th. Truist Financial upped their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Barclays upped their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Stephens restated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price 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.