The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI grew its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.1% during the fourth quarter, HoldingsChannel reports. The firm owned 17,512 shares of the financial services provider’s stock after buying an additional 1,158 shares during the period. Citizens Financial Group Inc. RI’s holdings in The PNC Financial Services Group were worth $3,377,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PNC. State Street Corp increased its stake in The PNC Financial Services Group by 0.6% during the 3rd quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock worth $3,197,791,000 after buying an additional 100,573 shares during the period. Franklin Resources Inc. grew its stake in shares of The PNC Financial Services Group by 1.2% during the third quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock valued at $1,939,154,000 after acquiring an additional 123,994 shares in the last quarter. Geode Capital Management LLC increased its position in shares of The PNC Financial Services Group by 2.0% during the third quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock worth $1,541,155,000 after acquiring an additional 166,138 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of The PNC Financial Services Group by 22.5% in the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock worth $746,435,000 after acquiring an additional 710,311 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in The PNC Financial Services Group by 1.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,950,394 shares of the financial services provider’s stock valued at $545,380,000 after purchasing an additional 42,887 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $203.06, for a total transaction of $252,200.52. Following the sale, the chief executive officer now directly owns 531,281 shares in the company, valued at approximately $107,881,919.86. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 13,662 shares of company stock valued at $2,643,895. Company insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PNC shares. Morgan Stanley lifted their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Stephens reiterated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Truist Financial boosted their target price on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Finally, The Goldman Sachs Group upped 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 issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Trading Down 2.6 %

Shares of NYSE: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 company’s 50-day moving average price is $193.39 and its 200 day moving average price is $192.90. The company has a market cap of $67.34 billion, a PE ratio of 12.37, a P/E/G ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the company posted $3.16 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders 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 annualized dividend and a dividend yield of 3.76%. The PNC Financial Services Group’s payout ratio is 46.55%.

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.