Bryn Mawr Capital Management LLC Grows Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Bryn Mawr Capital Management LLC boosted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,243 shares of the financial services provider’s stock after acquiring an additional 96 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in The PNC Financial Services Group were worth $423,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Private Advisor Group LLC boosted its holdings in The PNC Financial Services Group by 24.0% in the 4th quarter. Private Advisor Group LLC now owns 81,799 shares of the financial services provider’s stock worth $15,775,000 after acquiring an additional 15,822 shares during the period. Pasadena Private Wealth LLC boosted its holdings in The PNC Financial Services Group by 49.2% in the 4th quarter. Pasadena Private Wealth LLC now owns 2,122 shares of the financial services provider’s stock worth $409,000 after acquiring an additional 700 shares during the period. Global Retirement Partners LLC boosted its holdings in The PNC Financial Services Group by 3.4% in the 4th quarter. Global Retirement Partners LLC now owns 13,832 shares of the financial services provider’s stock worth $2,668,000 after acquiring an additional 454 shares during the period. Convergence Investment Partners LLC boosted its holdings in The PNC Financial Services Group by 23.2% in the 4th quarter. Convergence Investment Partners LLC now owns 15,129 shares of the financial services provider’s stock worth $2,918,000 after acquiring an additional 2,849 shares during the period. Finally, Bank of Jackson Hole Trust purchased a new position in The PNC Financial Services Group in the 4th quarter worth approximately $196,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $216.01, for a total value of $268,284.42. Following the completion of the transaction, the chief executive officer now owns 533,765 shares in the company, valued at approximately $115,298,577.65. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 12,420 shares of company stock worth $2,474,722. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $187.90 on Friday. 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, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26. The firm has a 50-day simple moving average of $196.08 and a 200 day simple moving average of $191.64. The company has a market cap of $74.55 billion, a PE ratio of 13.67, a P/E/G ratio of 1.57 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the firm earned $3.16 EPS. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current 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. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PNC shares. Piper Sandler upped their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Citigroup increased their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note 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 company an “overweight” rating in a research note on Friday, November 15th. Barclays raised their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, The Goldman Sachs Group upped their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $205.00.

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.