2,370 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Purchased by YANKCOM Partnership

YANKCOM Partnership purchased a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,370 shares of the financial services provider’s stock, valued at approximately $457,000.

A number of other institutional investors have also added to or reduced their stakes in PNC. Czech National Bank boosted its holdings in shares of The PNC Financial Services Group by 6.8% during the 3rd quarter. Czech National Bank now owns 80,974 shares of the financial services provider’s stock valued at $14,968,000 after purchasing an additional 5,150 shares during the last quarter. Diversified Trust Co grew its holdings in The PNC Financial Services Group by 14.4% during the 3rd quarter. Diversified Trust Co now owns 4,193 shares of the financial services provider’s stock valued at $775,000 after buying an additional 528 shares in the last quarter. Axiom Advisory LLC raised its stake in The PNC Financial Services Group by 8.7% during the third quarter. Axiom Advisory LLC now owns 3,712 shares of the financial services provider’s stock valued at $651,000 after purchasing an additional 298 shares in the last quarter. Legacy Private Trust Co. purchased a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at about $217,000. Finally, Atomi Financial Group Inc. lifted its position in The PNC Financial Services Group by 21.2% in the third quarter. Atomi Financial Group Inc. now owns 4,847 shares of the financial services provider’s stock worth $896,000 after buying an additional 848 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group 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 sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $202.11, for a total transaction of $251,020.62. Following the transaction, the chief executive officer now directly owns 522,587 shares in the company, valued at approximately $105,620,058.57. The trade was a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,413 shares of company stock valued at $6,037,230 in the last ninety days. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $198.99 on Thursday. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two 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 company has a market cap of $78.96 billion, a PE ratio of 14.47, a P/E/G ratio of 1.63 and a beta of 1.16. The business has a 50-day simple moving average of $199.25 and a two-hundred day simple moving average of $190.14.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.26 by $0.51. The business 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 business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.16 earnings per share. As a group, equities analysts expect that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.22%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

Analysts Set New Price Targets

A number of equities analysts recently commented on PNC shares. Piper Sandler lifted their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Stephens restated an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Citigroup increased their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Keefe, Bruyette & Woods upped their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Finally, Truist Financial lifted their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $205.00.

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.