Blair William & Co. IL Buys 4,542 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Blair William & Co. IL lifted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 9.8% during the 4th quarter, Holdings Channel reports. The firm owned 50,817 shares of the financial services provider’s stock after buying an additional 4,542 shares during the quarter. Blair William & Co. IL’s holdings in The PNC Financial Services Group were worth $9,800,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of The PNC Financial Services Group by 25.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock worth $7,739,000 after buying an additional 8,081 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in The PNC Financial Services Group by 48.5% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock valued at $5,160,000 after purchasing an additional 8,735 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its position in 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 valued at $30,202,000 after purchasing an additional 3,100 shares during the last quarter. PKS Advisory Services LLC acquired a new position in The PNC Financial Services Group in the fourth quarter worth $357,000. Finally, Root Financial Partners LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $346,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $192.15, for a total transaction of $238,650.30. Following the completion of the sale, the chief executive officer now owns 527,555 shares of the company’s stock, valued at $101,369,693.25. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 12,420 shares of company stock worth $2,342,313. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the subject of a number of research analyst reports. Barclays lifted their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Compass Point boosted their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Piper Sandler increased their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, The Goldman Sachs Group dropped their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus price target of $204.25.

The PNC Financial Services Group Trading Down 1.8 %

Shares of NYSE PNC opened at $171.83 on Friday. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The stock has a market cap of $68.00 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 1.55 and a beta of 1.13. 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’s fifty day moving average is $187.91 and its 200-day moving average is $192.10.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share 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 for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the company posted $3.16 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced 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 of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.72%. The PNC Financial Services Group’s payout ratio is 46.55%.

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.