The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by OLD National Bancorp IN

OLD National Bancorp IN grew its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,535 shares of the financial services provider’s stock after purchasing an additional 171 shares during the period. OLD National Bancorp IN’s holdings in The PNC Financial Services Group were worth $682,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PNC. AQR Capital Management LLC increased its holdings in The PNC Financial Services Group by 14.2% in the second quarter. AQR Capital Management LLC now owns 45,448 shares of the financial services provider’s stock worth $6,983,000 after buying an additional 5,640 shares during the last quarter. Quarry LP lifted its stake in shares of The PNC Financial Services Group by 141.7% in the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after buying an additional 170 shares during the period. EP Wealth Advisors LLC lifted its position in The PNC Financial Services Group by 11.9% in the second quarter. EP Wealth Advisors LLC now owns 3,725 shares of the financial services provider’s stock worth $579,000 after purchasing an additional 395 shares during the period. Cetera Investment Advisers increased its stake in The PNC Financial Services Group by 4.2% in the second quarter. Cetera Investment Advisers now owns 117,328 shares of the financial services provider’s stock valued at $18,242,000 after acquiring an additional 4,745 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of The PNC Financial Services Group by 1.9% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 28,577 shares of the financial services provider’s stock worth $5,283,000 after buying an additional 543 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 0.7 %

Shares of NYSE PNC opened at $200.63 on Friday. The business has a 50-day moving average of $200.04 and a 200-day moving average of $189.44. The firm has a market capitalization of $79.60 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 1.64 and a beta of 1.16. 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, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26.

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 the consensus estimate 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 during the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the business earned $3.16 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be given a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.19%. The PNC Financial Services Group’s payout ratio is 46.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PNC. Stephens reissued an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Wells Fargo & Company lifted their price target on shares of 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 upped their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Piper Sandler boosted their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Evercore ISI upped their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $205.00.

Insiders Place Their Bets

In other news, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $208.12, for a total transaction of $258,485.04. Following the completion of the sale, the chief executive officer now directly owns 536,249 shares of the company’s stock, valued at $111,604,141.88. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,171 shares of company stock valued at $5,786,210 over the last quarter. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Company 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.