Planned Solutions Inc. Takes Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Planned Solutions Inc. bought a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 544 shares of the financial services provider’s stock, valued at approximately $84,000.

Several other institutional investors and hedge funds have also bought and sold shares of PNC. Blair William & Co. IL grew its position in The PNC Financial Services Group by 0.5% during the first quarter. Blair William & Co. IL now owns 16,997 shares of the financial services provider’s stock worth $3,135,000 after buying an additional 89 shares in the last quarter. Cetera Investment Advisers raised its stake in The PNC Financial Services Group by 12.0% in the first quarter. Cetera Investment Advisers now owns 16,141 shares of the financial services provider’s stock valued at $2,977,000 after purchasing an additional 1,724 shares in the last quarter. Covestor Ltd lifted its position in The PNC Financial Services Group by 68.8% during the first quarter. Covestor Ltd now owns 336 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 137 shares during the last quarter. West Family Investments Inc. grew its stake in The PNC Financial Services Group by 9.1% in the 1st quarter. West Family Investments Inc. now owns 1,164 shares of the financial services provider’s stock worth $215,000 after buying an additional 97 shares in the last quarter. Finally, Ergoteles LLC increased its holdings in shares of The PNC Financial Services Group by 137.9% in the 1st quarter. Ergoteles LLC now owns 21,048 shares of the financial services provider’s stock worth $3,882,000 after buying an additional 12,201 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $159.97 on Thursday. The company’s fifty day simple moving average is $149.73 and its two-hundred day simple moving average is $138.10. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $160.10. The firm has a market cap of $63.64 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.79 and a beta of 1.17. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $1.04. The company had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.30 billion. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The PNC Financial Services Group’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the firm earned $3.49 earnings per share. As a group, equities analysts expect that The PNC Financial Services Group, Inc. will post 12.4 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 5th. Investors of record on Tuesday, January 16th were issued a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, January 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.88%. The PNC Financial Services Group’s dividend payout ratio is presently 48.48%.

Insider Buying and Selling

In other news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PNC has been the subject of several research reports. The Goldman Sachs Group upped their target price on shares of The PNC Financial Services Group from $128.00 to $147.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 19th. Piper Sandler increased their price objective on The PNC Financial Services Group from $125.00 to $143.00 and gave the company a “neutral” rating in a research report on Friday, December 8th. Keefe, Bruyette & Woods boosted their target price on The PNC Financial Services Group from $125.00 to $145.00 and gave the stock an “underperform” rating in a research report on Wednesday, January 3rd. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price target for the company from $141.00 to $155.00 in a research report on Thursday. Finally, UBS Group boosted their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $149.59.

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.