Powers Advisory Group LLC Makes New $200,000 Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

Powers Advisory Group LLC purchased a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,040 shares of the financial services provider’s stock, valued at approximately $200,000.

Other institutional investors have also modified their holdings of the company. Winch Advisory Services LLC acquired a new position in The PNC Financial Services Group during the 4th quarter valued at about $25,000. Albion Financial Group UT bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth $30,000. Synergy Asset Management LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at about $32,000. Valley Wealth Managers Inc. raised its position in shares of The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after buying an additional 200 shares in the last quarter. Finally, Quarry LP increased its position in shares of The PNC Financial Services Group by 141.7% during the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 170 shares during the period. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

PNC opened at $202.08 on Friday. The stock has a 50-day moving average of $200.11 and a 200-day moving average of $189.35. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. 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 market cap of $80.18 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the business earned $3.16 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be issued a $1.60 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.17%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PNC. Citigroup lifted their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Morgan Stanley upped their target price 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. Truist Financial raised their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a report on Friday, January 17th. The Goldman Sachs Group upped their price objective 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. Finally, Piper Sandler lifted their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $205.00.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $216.01, for a total value of $268,284.42. Following the transaction, the chief executive officer now directly owns 533,765 shares in the company, valued at approximately $115,298,577.65. The trade was 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. Also, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction that occurred on 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 sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,171 shares of company stock valued at $5,786,210 in the last quarter. Insiders own 0.42% of the company’s stock.

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.