Linscomb Wealth Inc. Purchases 156 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Linscomb Wealth Inc. lifted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,221 shares of the financial services provider’s stock after buying an additional 156 shares during the period. Linscomb Wealth Inc.’s holdings in The PNC Financial Services Group were worth $428,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P raised its stake in The PNC Financial Services Group by 8.7% in the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after buying an additional 50 shares during the last quarter. Baltimore Washington Financial Advisors Inc. raised its position in shares of The PNC Financial Services Group by 3.1% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock valued at $324,000 after purchasing an additional 51 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in The PNC Financial Services Group by 2.4% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock worth $434,000 after purchasing an additional 53 shares during the last quarter. Transcend Capital Advisors LLC increased its stake in The PNC Financial Services Group by 1.8% during the 4th quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock valued at $616,000 after purchasing an additional 55 shares in the last quarter. Finally, Altman Advisors Inc. raised its holdings in shares of The PNC Financial Services Group by 0.5% in the third quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock worth $1,942,000 after buying an additional 56 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Up 1.9 %

PNC stock opened at $192.05 on Friday. The business’s 50-day moving average is $195.42 and its 200 day moving average is $192.32. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. The stock has a market cap of $76.00 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 1.55 and a beta of 1.16. 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 (NYSE:PNC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the business earned $3.16 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PNC shares. 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 research report on Friday, January 17th. The Goldman Sachs Group lifted their target price on 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. Stephens reiterated an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a report 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 note on Tuesday, December 3rd. Finally, Compass Point boosted their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Two investment 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’s stock. According to data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and an average price target of $205.00.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $189.29, for a total value of $235,098.18. Following the completion of the sale, the chief executive officer now directly owns 530,039 shares in the company, valued at $100,331,082.31. This represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 12,420 shares of company stock worth $2,445,461 in the last ninety days. Insiders own 0.42% of the company’s stock.

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.