Jmac Enterprises LLC Purchases 700 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Jmac Enterprises LLC increased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,890 shares of the financial services provider’s stock after purchasing an additional 700 shares during the period. Jmac Enterprises LLC’s holdings in The PNC Financial Services Group were worth $2,100,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PNC. Winch Advisory Services LLC bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. boosted its holdings in The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares during the period. Albion Financial Group UT bought a new position in The PNC Financial Services Group in the 4th quarter valued at $30,000. Synergy Asset Management LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter worth $32,000. Finally, Financial Life Planners bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $37,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Up 1.1 %

NYSE:PNC opened at $199.37 on Wednesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $79.10 billion, a P/E ratio of 14.50, a P/E/G ratio of 1.64 and a beta of 1.16. The company’s 50-day simple moving average is $198.12 and its 200-day simple moving average is $190.74. 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 PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results 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 business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.16 earnings per share. On average, equities analysts anticipate 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 announced 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. This represents a $6.40 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $205.98, for a total value of $255,827.16. Following the transaction, the chief executive officer now directly owns 535,007 shares of the company’s stock, valued at $110,200,741.86. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 14,904 shares of company stock valued at $2,989,034. 0.42% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PNC has been the topic of a number of research analyst reports. Truist Financial upped their price target 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. Evercore ISI raised their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Stephens reaffirmed an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Piper Sandler increased their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods lifted their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $205.00.

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.