Smartleaf Asset Management LLC Has $2.04 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Smartleaf Asset Management LLC raised its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 10,608 shares of the financial services provider’s stock after buying an additional 850 shares during the period. Smartleaf Asset Management LLC’s holdings in The PNC Financial Services Group were worth $2,043,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research firms have commented on PNC. Truist Financial increased their price objective on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Barclays increased their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Compass Point raised 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 report on Tuesday, December 10th. Finally, 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 research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $205.00.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $203.06, for a total transaction of $252,200.52. Following the sale, the chief executive officer now directly owns 531,281 shares in the company, valued at $107,881,919.86. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders have sold 12,420 shares of company stock valued at $2,445,461. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC opened at $192.05 on Friday. The firm has a 50-day moving average price of $195.42 and a 200-day moving average price of $192.49. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month 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 company has a market capitalization 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 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 for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the business earned $3.16 EPS. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. Equities analysts expect 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 paid 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 dividend yield of 3.33%. 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.