The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Position Raised by National Pension Service

National Pension Service lifted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,032,780 shares of the financial services provider’s stock after purchasing an additional 76,143 shares during the period. National Pension Service’s holdings in The PNC Financial Services Group were worth $199,172,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PNC. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at about $25,000. Richardson Financial Services Inc. raised its holdings in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares during the period. Albion Financial Group UT purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $30,000. Synergy Asset Management LLC acquired a new position in The PNC Financial Services Group in the 4th quarter worth approximately $32,000. Finally, Financial Life Planners acquired a new position in The PNC Financial Services Group in the 4th quarter worth approximately $37,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, December 6th. The stock was sold at an average price of $209.24, for a total transaction of $259,876.08. Following the sale, the chief executive officer now directly owns 532,523 shares in the company, valued at approximately $111,425,112.52. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 13,662 shares of company stock valued at $2,713,745. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

PNC has been the subject of several research reports. Citigroup lifted their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Barclays boosted their target price on 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. The Goldman Sachs Group lifted their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Truist Financial lifted their price target on shares of 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. Finally, Piper Sandler lifted their price target on 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $186.55 on Wednesday. The stock has a fifty day moving average price of $195.56 and a 200-day moving average price of $192.21. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 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 $74.02 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 1.55 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating 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 company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter last year, the business posted $3.16 EPS. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate 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. Stockholders of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is 46.55%.

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.