Wayfinding Financial LLC Makes New $356,000 Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

Wayfinding Financial LLC bought a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, HoldingsChannel reports. The fund bought 1,850 shares of the financial services provider’s stock, valued at approximately $356,000.

Other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in The PNC Financial Services Group by 25.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock valued at $7,739,000 after purchasing an additional 8,081 shares during the period. Fifth Third Wealth Advisors LLC raised its stake in shares of The PNC Financial Services Group by 48.5% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock worth $5,160,000 after buying an additional 8,735 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in shares of The PNC Financial Services Group by 2.0% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock worth $30,202,000 after buying an additional 3,100 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $346,000. Finally, Truist Financial Corp raised its position in shares of The PNC Financial Services Group by 1.4% during the fourth quarter. Truist Financial Corp now owns 1,132,634 shares of the financial services provider’s stock worth $218,429,000 after purchasing an additional 15,246 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Stephens reissued an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Compass Point boosted 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 note on Tuesday, December 10th. Citigroup upped their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. The Goldman Sachs Group decreased their price target on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Barclays boosted their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Two 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $203.71.

The PNC Financial Services Group Trading Down 0.2 %

Shares of PNC opened at $173.42 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 company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock has a 50 day simple moving average of $190.35 and a 200-day simple moving average of $192.30. The stock has a market cap of $68.63 billion, a PE ratio of 12.61, a PEG ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results 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 business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.16 EPS. On average, sell-side analysts predict 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 declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given 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 3.69%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $192.15, for a total transaction of $238,650.30. Following the sale, the chief executive officer now directly owns 527,555 shares in the company, valued at $101,369,693.25. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 12,420 shares of company stock worth $2,369,165 in the last three months. Insiders own 0.42% of the company’s stock.

About The PNC Financial Services Group

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.