Machina Capital S.A.S. Acquires Shares of 9,377 The PNC Financial Services Group, Inc. (NYSE:PNC)

Machina Capital S.A.S. acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, Holdings Channel reports. The fund acquired 9,377 shares of the financial services provider’s stock, valued at approximately $1,808,000. The PNC Financial Services Group comprises approximately 0.8% of Machina Capital S.A.S.’s investment portfolio, making the stock its 27th largest position.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Loomis Sayles & Co. L P raised its holdings in The PNC Financial Services Group by 8.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 50 shares during the last quarter. Baltimore Washington Financial Advisors Inc. raised its holdings in The PNC Financial Services Group by 3.1% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock valued at $324,000 after acquiring an additional 51 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in The PNC Financial Services Group by 2.4% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock valued at $434,000 after acquiring an additional 53 shares during the last quarter. Transcend Capital Advisors LLC raised its holdings in The PNC Financial Services Group by 1.8% in the 4th quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock valued at $616,000 after acquiring an additional 55 shares during the last quarter. Finally, Altman Advisors Inc. raised its holdings in The PNC Financial Services Group by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock valued at $1,942,000 after acquiring an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the subject of several research reports. Stephens reissued an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Barclays boosted their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Piper Sandler boosted their price objective on shares of 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. Compass Point boosted 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 note on Tuesday, December 10th. Finally, Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $179.75 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a 50-day moving average of $194.20 and a two-hundred day moving average of $192.68. The stock has a market cap of $71.14 billion, a P/E ratio of 13.07, a PEG ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The company 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 revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.16 EPS. On average, research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.56%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $203.06, for a total value of $252,200.52. Following the sale, the chief executive officer now owns 531,281 shares in the company, valued at approximately $107,881,919.86. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 12,420 shares of company stock worth $2,421,788. 0.42% of the stock is currently owned by corporate insiders.

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.