Donaldson Capital Management LLC Buys 92 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Donaldson Capital Management LLC boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,838 shares of the financial services provider’s stock after acquiring an additional 92 shares during the period. Donaldson Capital Management LLC’s holdings in The PNC Financial Services Group were worth $1,512,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PNC. Principal Financial Group Inc. lifted its holdings in shares of The PNC Financial Services Group by 1.0% in the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock worth $420,621,000 after buying an additional 22,271 shares in the last quarter. CWA Asset Management Group LLC purchased a new stake in The PNC Financial Services Group in the 3rd quarter worth $509,000. Ashton Thomas Securities LLC bought a new position in shares of The PNC Financial Services Group during the 3rd quarter valued at about $177,000. Versor Investments LP boosted its holdings in shares of The PNC Financial Services Group by 37.5% during the 3rd quarter. Versor Investments LP now owns 3,300 shares of the financial services provider’s stock valued at $610,000 after purchasing an additional 900 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV purchased a new position in shares of The PNC Financial Services Group during the third quarter valued at about $230,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 2.6 %

PNC opened at $170.15 on Wednesday. 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 stock’s fifty day moving average is $193.39 and its two-hundred day moving average is $192.90. The company has a market capitalization of $67.34 billion, a P/E ratio of 12.37, a PEG ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the firm posted $3.16 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts forecast 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. 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 3.76%. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays increased their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Truist Financial boosted 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. 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. Morgan Stanley lifted their price objective on shares of 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. Finally, The Goldman Sachs Group increased their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $205.00.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $189.29, for a total transaction of $235,098.18. Following the sale, the chief executive officer now owns 530,039 shares of the company’s stock, valued at approximately $100,331,082.31. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 13,662 shares of company stock valued at $2,643,895 over the last ninety days. 0.42% of the stock is owned by company insiders.

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.