The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Townsquare Capital LLC

Townsquare Capital LLC increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 29.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,567 shares of the financial services provider’s stock after purchasing an additional 5,363 shares during the quarter. Townsquare Capital LLC’s holdings in The PNC Financial Services Group were worth $4,545,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $1,352,151,000. Schroder Investment Management Group lifted its stake in shares of The PNC Financial Services Group by 166.1% during the fourth quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider’s stock worth $265,436,000 after purchasing an additional 860,554 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of The PNC Financial Services Group by 10.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock worth $1,453,763,000 after buying an additional 726,115 shares during the period. Bank of New York Mellon Corp grew its stake in shares of The PNC Financial Services Group by 22.5% in the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock valued at $746,435,000 after buying an additional 710,311 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of The PNC Financial Services Group by 5.3% during the 4th quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider’s stock valued at $2,089,622,000 after buying an additional 549,278 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $151.57 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The business has a 50 day moving average of $178.30 and a two-hundred day moving average of $190.22. The company has a market cap of $59.98 billion, a P/E ratio of 11.02, a PEG ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $3.16 EPS. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be given a $1.60 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 4.22%. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PNC shares. Wells Fargo & Company dropped their price objective 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 note on Friday, March 28th. Morgan Stanley dropped their price target on shares of The PNC Financial Services Group from $188.00 to $179.00 and set an “underweight” rating on the stock in a research note on Monday, April 7th. The Goldman Sachs Group decreased 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. Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. Finally, Truist Financial cut their target price on The PNC Financial Services Group from $216.00 to $208.00 and set a “hold” rating on the stock in a research report on Friday, April 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $203.47.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $202.11, for a total transaction of $251,020.62. Following the sale, the chief executive officer now owns 522,587 shares of the company’s stock, valued at approximately $105,620,058.57. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 12,420 shares of company stock valued at $2,276,870 in the last ninety days. Company insiders own 0.41% of the company’s stock.

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.