The PNC Financial Services Group, Inc. (NYSE:PNC) Holdings Raised by Norden Group LLC

Norden Group LLC boosted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,900 shares of the financial services provider’s stock after buying an additional 377 shares during the quarter. Norden Group LLC’s holdings in The PNC Financial Services Group were worth $752,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Loomis Sayles & Co. L P raised its holdings in shares of The PNC Financial Services Group by 8.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 50 shares in the last quarter. Baltimore Washington Financial Advisors Inc. raised its holdings in shares of 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 valued at $324,000 after purchasing an additional 51 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of 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 valued at $434,000 after purchasing 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% 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. grew its stake in The PNC Financial Services Group by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock valued at $1,942,000 after buying an additional 56 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated 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 transaction, the chief executive officer now directly owns 531,281 shares of the company’s stock, valued at $107,881,919.86. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 13,662 shares of company stock valued at $2,681,664. Company insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group raised their target price 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. Barclays raised their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Truist Financial raised their target price 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. Piper Sandler raised 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. 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 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. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $189.26 on Tuesday. The company has a 50-day moving average of $195.34 and a 200-day moving average of $192.78. The company has a market capitalization of $74.90 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.55 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26. 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 (NYSE:PNC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates 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 firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $3.16 EPS. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Wednesday, January 15th. 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.