Joel Isaacson & Co. LLC Grows Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Joel Isaacson & Co. LLC boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.3% during the fourth quarter, Holdings Channel reports. The firm owned 48,567 shares of the financial services provider’s stock after buying an additional 1,076 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in The PNC Financial Services Group were worth $9,366,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. CWM LLC grew its stake in The PNC Financial Services Group by 14.7% in the 3rd quarter. CWM LLC now owns 13,108 shares of the financial services provider’s stock valued at $2,423,000 after acquiring an additional 1,681 shares during the last quarter. Wedmont Private Capital grew its position in shares of The PNC Financial Services Group by 12.4% in the third quarter. Wedmont Private Capital now owns 4,399 shares of the financial services provider’s stock valued at $802,000 after purchasing an additional 486 shares during the last quarter. USA Financial Formulas increased its stake in shares of The PNC Financial Services Group by 7.6% during the 3rd quarter. USA Financial Formulas now owns 1,287 shares of the financial services provider’s stock worth $238,000 after purchasing an additional 91 shares in the last quarter. UMB Bank n.a. raised its position in shares of The PNC Financial Services Group by 0.9% during the 3rd quarter. UMB Bank n.a. now owns 14,728 shares of the financial services provider’s stock worth $2,722,000 after purchasing an additional 132 shares during the last quarter. Finally, Quotient Wealth Partners LLC lifted its stake in The PNC Financial Services Group by 2.1% in the 3rd quarter. Quotient Wealth Partners LLC now owns 3,488 shares of the financial services provider’s stock valued at $645,000 after buying an additional 73 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $208.12, for a total value of $258,485.04. Following the sale, the chief executive officer now directly owns 536,249 shares of the company’s stock, valued at $111,604,141.88. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,413 shares of company stock worth $6,037,230 in the last 90 days. 0.42% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on PNC. Barclays boosted their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Piper Sandler boosted 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. Citigroup raised their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Wells Fargo & Company boosted their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Compass Point raised their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Trading Down 0.8 %

NYSE:PNC opened at $200.80 on Friday. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26. The business’s 50-day moving average is $198.68 and its two-hundred day moving average is $190.28. 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 firm has a market capitalization of $79.67 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued 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 the consensus estimate 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 PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $3.16 earnings per share. Research analysts predict that The PNC Financial Services Group, Inc. will post 15.3 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

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.