The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Premier Fund Managers Ltd

Premier Fund Managers Ltd boosted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 38.3% in the 4th quarter, Holdings Channel reports. The firm owned 49,430 shares of the financial services provider’s stock after purchasing an additional 13,700 shares during the period. Premier Fund Managers Ltd’s holdings in The PNC Financial Services Group were worth $9,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at approximately $25,000. Richardson Financial Services Inc. lifted its holdings in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT acquired a new position in The PNC Financial Services Group in the 4th quarter valued at $30,000. Rialto Wealth Management LLC purchased a new position in The PNC Financial Services Group during the 4th quarter worth $32,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $32,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $202.11, for a total value of $251,020.62. Following the transaction, the chief executive officer now owns 522,587 shares in the company, valued at $105,620,058.57. The trade was a 0.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 12,420 shares of company stock valued at $2,342,313. Corporate insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PNC shares. The Goldman Sachs Group reduced their price objective on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Piper Sandler upped their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Compass Point boosted their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Citigroup cut their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday. Finally, Truist Financial boosted their price objective on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $201.65.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $175.10 on Friday. The business’s 50-day moving average price is $188.44 and its 200 day moving average price is $192.09. 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 PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The company has a market capitalization of $69.30 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the company posted $3.16 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.66%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

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.