WINTON GROUP Ltd Increases Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

WINTON GROUP Ltd grew its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,116 shares of the financial services provider’s stock after buying an additional 478 shares during the quarter. WINTON GROUP Ltd’s holdings in The PNC Financial Services Group were worth $1,179,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PNC. Vanguard Group Inc. increased its stake in shares of The PNC Financial Services Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider’s stock valued at $7,273,794,000 after buying an additional 268,827 shares during the period. State Street Corp boosted its holdings in The PNC Financial Services Group by 0.6% in the third quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock valued at $3,197,791,000 after acquiring an additional 100,573 shares in the last quarter. Franklin Resources Inc. increased its position in The PNC Financial Services Group by 1.2% during the 3rd quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock valued at $1,939,154,000 after purchasing an additional 123,994 shares during the period. Geode Capital Management LLC raised its holdings in The PNC Financial Services Group by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock worth $1,541,155,000 after purchasing an additional 166,138 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of The PNC Financial Services Group by 22.5% in the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock worth $746,435,000 after purchasing an additional 710,311 shares during the period. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on PNC. Piper Sandler lifted their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Truist Financial upped their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Barclays raised their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company reduced their target price on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Compass Point lifted their price target 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. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $204.25.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $192.88, for a total value of $239,556.96. Following the completion of the transaction, the chief executive officer now owns 526,313 shares of the company’s stock, valued at approximately $101,515,251.44. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 12,420 shares of company stock valued at $2,342,313 in the last three months. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $171.83 on Friday. The business’s 50-day moving average is $187.91 and its 200 day moving average is $192.01. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26. The company has a market capitalization of $68.00 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.55 and a beta of 1.13. 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 (NYSE:PNC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $5.51 billion. During the same period in the prior year, the firm earned $3.16 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities research analysts forecast 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.72%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

The PNC Financial Services Group 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.