Gries Financial LLC Has $2.44 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Gries Financial LLC boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.7% during the fourth quarter, HoldingsChannel reports. The fund owned 12,674 shares of the financial services provider’s stock after purchasing an additional 214 shares during the quarter. Gries Financial LLC’s holdings in The PNC Financial Services Group were worth $2,444,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp lifted its holdings in The PNC Financial Services Group by 0.6% in the third quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock valued at $3,197,791,000 after buying an additional 100,573 shares during the period. Franklin Resources Inc. boosted its holdings in The PNC Financial Services Group by 1.2% during the 3rd quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock worth $1,939,154,000 after acquiring an additional 123,994 shares during 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 valued at $1,541,155,000 after acquiring an additional 166,138 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake 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 acquiring an additional 42,887 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of The PNC Financial Services Group by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,440,098 shares of the financial services provider’s stock valued at $451,052,000 after buying an additional 6,438 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

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 stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $189.50, for a total transaction of $235,359.00. Following the transaction, the chief executive officer now directly owns 543,523 shares of the company’s stock, valued at $102,997,608.50. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,413 shares of company stock worth $6,021,569. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Stock Up 0.3 %

Shares of PNC opened at $202.29 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 company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The business has a fifty day moving average of $200.14 and a 200 day moving average of $189.26. The company has a market cap of $80.26 billion, a PE ratio of 14.71, a P/E/G ratio of 1.59 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.16 EPS. On average, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is presently 46.55%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PNC shares. Citigroup upped their price objective 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. Stephens reiterated an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Compass Point increased their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Truist Financial upped their price target on shares of 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. Finally, Piper Sandler lifted 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group has a consensus 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.