Hosking Partners LLP Acquires 15,747 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Hosking Partners LLP boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 22.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 85,129 shares of the financial services provider’s stock after buying an additional 15,747 shares during the quarter. Hosking Partners LLP’s holdings in The PNC Financial Services Group were worth $16,417,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Winch Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $25,000. Richardson Financial Services Inc. grew its holdings in The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group in the fourth quarter worth about $30,000. Synergy Asset Management LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $32,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter valued at about $33,000. 83.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PNC has been the subject of several analyst reports. 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 stock a “neutral” rating in a report on Friday, December 6th. Citigroup increased their target price on 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 restated 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. Piper Sandler lifted their price objective on shares of 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. Finally, Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Hold” and an average price target of $205.00.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $203.06, for a total transaction of $252,200.52. Following the completion of the sale, the chief executive officer now owns 531,281 shares of the company’s stock, valued at approximately $107,881,919.86. The trade was 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. Insiders sold a total of 12,420 shares of company stock valued at $2,445,461 in the last three months. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC opened at $188.46 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26. The company has a market capitalization of $74.78 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.55 and a beta of 1.16. The firm’s 50-day moving average is $195.43 and its 200 day moving average is $192.15.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS 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 firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the firm posted $3.16 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.40%. 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.