Kovitz Investment Group Partners LLC Increases Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Kovitz Investment Group Partners LLC grew its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,931 shares of the financial services provider’s stock after acquiring an additional 2,972 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in The PNC Financial Services Group were worth $11,911,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Loomis Sayles & Co. L P increased its holdings in shares of The PNC Financial Services Group by 8.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 50 shares in the last quarter. MFA Wealth Advisors LLC increased its holdings in shares of The PNC Financial Services Group by 5.4% during the 3rd quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock valued at $200,000 after purchasing an additional 55 shares in the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of The PNC Financial Services Group by 0.3% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock valued at $3,148,000 after purchasing an additional 56 shares in the last quarter. Altman Advisors Inc. increased its holdings in shares of The PNC Financial Services Group by 0.5% during the 3rd quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock valued at $1,942,000 after purchasing an additional 56 shares in the last quarter. Finally, Valley Brook Capital Group Inc. increased its holdings in shares of The PNC Financial Services Group by 0.5% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider’s stock valued at $1,969,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the subject of several recent research reports. Piper Sandler lifted their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday. Barclays lifted their price target on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Citigroup lifted their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Stephens lifted their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $195.84.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $186.45, for a total value of $231,570.90. Following the sale, the chief executive officer now directly owns 550,975 shares in the company, valued at approximately $102,729,288.75. The trade was a 0.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the sale, the director now owns 915 shares in the company, valued at approximately $170,299.80. This trade represents a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,788 shares of company stock valued at $5,613,814. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Trading Down 0.1 %

Shares of PNC opened at $208.62 on Friday. The PNC Financial Services Group, Inc. has a 52-week low of $139.19 and a 52-week high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm’s fifty day moving average is $196.11 and its two-hundred day moving average is $177.92. The stock has a market cap of $82.78 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 2.18 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.19. The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.60 EPS. Research analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.07%. The PNC Financial Services Group’s payout ratio is 54.10%.

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.