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

Empower Advisory Group LLC lifted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 17.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,466 shares of the financial services provider’s stock after acquiring an additional 214 shares during the quarter. Empower Advisory Group LLC’s holdings in The PNC Financial Services Group were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Truist Financial Corp raised its position in shares of The PNC Financial Services Group by 1.4% during the 4th quarter. Truist Financial Corp now owns 1,132,634 shares of the financial services provider’s stock valued at $218,429,000 after acquiring an additional 15,246 shares in the last quarter. CIBC Asset Management Inc increased its position in The PNC Financial Services Group by 8.6% in the fourth quarter. CIBC Asset Management Inc now owns 119,714 shares of the financial services provider’s stock worth $23,087,000 after buying an additional 9,457 shares during the period. Human Investing LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter worth $87,000. Sanctuary Advisors LLC increased its position in The PNC Financial Services Group by 7.2% in the fourth quarter. Sanctuary Advisors LLC now owns 104,911 shares of the financial services provider’s stock worth $21,199,000 after buying an additional 7,003 shares during the period. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new stake in The PNC Financial Services Group in the fourth quarter worth $1,612,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on PNC. Morgan Stanley increased their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Citigroup increased their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Compass Point increased their target price on 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. Finally, The Goldman Sachs Group increased their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Trading Down 1.2 %

Shares of PNC stock opened at $194.19 on Thursday. The stock has a 50-day simple moving average of $196.55 and a 200 day simple moving average of $191.49. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26. The stock has a market capitalization of $77.05 billion, a P/E ratio of 14.12, a P/E/G ratio of 1.56 and a beta of 1.16. 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 PNC Financial Services Group (NYSE:PNC) last announced its earnings results 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 during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the business posted $3.16 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, sell-side 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 declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given 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 3.30%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $202.11, for a total value of $251,020.62. Following the completion of the transaction, the chief executive officer now owns 522,587 shares in the company, valued at $105,620,058.57. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 13,662 shares of company stock worth $2,730,549 in the last quarter. 0.42% of the stock is owned by company insiders.

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.