Tilt Investment Management Holdings PBC Acquires New Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Tilt Investment Management Holdings PBC acquired a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,604 shares of the financial services provider’s stock, valued at approximately $248,000.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $735,469,000. Moneta Group Investment Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 122,771.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock valued at $401,323,000 after buying an additional 2,538,916 shares during the period. Morgan Stanley boosted its holdings in shares of The PNC Financial Services Group by 28.7% in the fourth quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock valued at $740,101,000 after buying an additional 1,045,055 shares during the period. FMR LLC boosted its holdings in shares of The PNC Financial Services Group by 6.7% in the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after buying an additional 893,808 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of The PNC Financial Services Group by 7.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock valued at $2,064,357,000 after buying an additional 860,489 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PNC shares. Bank of America upped their price target on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Thursday. 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 research report on Thursday, January 18th. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price objective for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Finally, Jefferies Financial Group reduced their price target on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a report on Wednesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $156.63.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the sale, the executive vice president now owns 36,570 shares in the company, valued at approximately $5,442,347.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 0.6 %

Shares of NYSE:PNC opened at $147.00 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24. The business has a 50 day moving average of $151.80 and a 200-day moving average of $141.72. The stock has a market cap of $58.48 billion, a PE ratio of 12.41, a P/E/G ratio of 1.69 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the business earned $3.98 earnings per share. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 12.47 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 4.22%. The PNC Financial Services Group’s dividend payout ratio is 52.06%.

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.