Commonwealth Equity Services LLC Has $38.32 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Commonwealth Equity Services LLC lifted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 198,693 shares of the financial services provider’s stock after purchasing an additional 8,036 shares during the period. Commonwealth Equity Services LLC’s holdings in The PNC Financial Services Group were worth $38,318,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Winch Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at $25,000. Richardson Financial Services Inc. lifted its position in The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares during the last quarter. Albion Financial Group UT acquired a new position in The PNC Financial Services Group during the 4th quarter worth $30,000. Synergy Asset Management LLC acquired a new position in The PNC Financial Services Group during the 4th quarter worth $32,000. Finally, Rialto Wealth Management LLC acquired a new position in The PNC Financial Services Group during the 4th quarter worth $32,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $193.62, for a total value of $240,476.04. Following the transaction, the chief executive officer now directly owns 528,797 shares in the company, valued at $102,385,675.14. 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 the SEC website. Insiders have sold 12,420 shares of company stock worth $2,391,695 over the last ninety days. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $172.80 on Friday. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. The firm’s 50 day moving average is $192.04 and its 200-day moving average is $192.54. The firm has a market capitalization of $68.39 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.55 and a beta of 1.13. 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 announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the business earned $3.16 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS 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. Investors of record on Wednesday, January 15th were issued a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.70%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PNC shares. Barclays boosted their price objective on shares of 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. Stephens reissued an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Piper Sandler upped 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, The Goldman Sachs Group upped their price objective on shares of 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 analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $205.00.

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.