Golden State Wealth Management LLC Buys New Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Golden State Wealth Management LLC purchased a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 373 shares of the financial services provider’s stock, valued at approximately $72,000.

A number of other large investors have also bought and sold shares of PNC. Winch Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth $25,000. Richardson Financial Services Inc. grew its holdings in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares during the last quarter. Albion Financial Group UT purchased a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $30,000. Synergy Asset Management LLC bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at about $32,000. Finally, Valley Wealth Managers Inc. boosted its holdings in shares of The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 200 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Piper Sandler boosted their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Truist Financial raised 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. Citigroup boosted their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $205.00.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $205.98, for a total transaction of $255,827.16. Following the sale, the chief executive officer now owns 535,007 shares of the company’s stock, valued at $110,200,741.86. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 14,904 shares of company stock worth $2,989,034. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $197.25 on Tuesday. The stock’s 50 day moving average is $198.40 and its 200 day moving average is $190.62. The company has a market capitalization of $78.26 billion, a P/E ratio of 14.35, a PEG ratio of 1.64 and a beta of 1.16. The PNC Financial Services Group, Inc. has a twelve month low of $139.69 and a twelve month high of $216.26. 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 issued its quarterly 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 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 company’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the company earned $3.16 earnings per share. On average, equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.3 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.24%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 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.