The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by First Horizon Advisors Inc.

First Horizon Advisors Inc. lifted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 61.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,811 shares of the financial services provider’s stock after acquiring an additional 7,141 shares during the period. First Horizon Advisors Inc.’s holdings in The PNC Financial Services Group were worth $3,628,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Foundations Investment Advisors LLC boosted its stake in The PNC Financial Services Group by 5.9% during the 3rd quarter. Foundations Investment Advisors LLC now owns 1,544 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 86 shares in the last quarter. International Assets Investment Management LLC boosted its stake in The PNC Financial Services Group by 12,940.0% during the third quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock valued at $99,262,000 after buying an additional 532,871 shares in the last quarter. Dakota Wealth Management boosted its stake in The PNC Financial Services Group by 5.5% during the third quarter. Dakota Wealth Management now owns 4,186 shares of the financial services provider’s stock valued at $774,000 after buying an additional 218 shares in the last quarter. Allworth Financial LP grew its holdings in The PNC Financial Services Group by 41.5% during the third quarter. Allworth Financial LP now owns 14,183 shares of the financial services provider’s stock worth $2,622,000 after acquiring an additional 4,162 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in The PNC Financial Services Group by 19.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,993 shares of the financial services provider’s stock worth $5,857,000 after acquiring an additional 5,223 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PNC. Compass Point raised their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Barclays raised their target price on shares of 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. 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 report on Tuesday, December 3rd. The Goldman Sachs Group increased their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Citigroup lifted their target price 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $205.00.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $209.24, for a total value of $259,876.08. Following the transaction, the chief executive officer now directly owns 532,523 shares of the company’s stock, valued at $111,425,112.52. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 12,420 shares of company stock worth $2,474,722. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 2.1 %

Shares of NYSE PNC opened at $187.90 on Monday. The firm has a market capitalization of $74.55 billion, a PE ratio of 13.67, a PEG ratio of 1.55 and a beta of 1.16. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The business has a 50-day moving average price of $196.08 and a two-hundred day moving average price of $191.98.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results 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 analysts’ expectations 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 firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $3.16 earnings per share. As a group, analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared 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 3.41%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 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.