The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Candriam S.C.A.

Candriam S.C.A. lifted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 9.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 241,592 shares of the financial services provider’s stock after purchasing an additional 19,886 shares during the period. Candriam S.C.A. owned 0.06% of The PNC Financial Services Group worth $46,591,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in The PNC Financial Services Group by 25.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock valued at $7,739,000 after acquiring an additional 8,081 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in The PNC Financial Services Group by 48.5% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock valued at $5,160,000 after acquiring an additional 8,735 shares during the last quarter. Mn Services Vermogensbeheer B.V. lifted its stake in The PNC Financial Services Group by 2.0% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock worth $30,202,000 after purchasing an additional 3,100 shares in the last quarter. Concurrent Investment Advisors LLC lifted its stake in The PNC Financial Services Group by 45.6% during the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after purchasing an additional 2,009 shares in the last quarter. Finally, Root Financial Partners LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth $346,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Barclays upped their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Morgan Stanley upped their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Wells Fargo & Company upped their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. 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 research note on Tuesday, December 3rd. Finally, The Goldman Sachs Group upped 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 equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $205.00.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $203.06, for a total transaction of $252,200.52. Following the transaction, the chief executive officer now owns 531,281 shares of the company’s stock, valued at approximately $107,881,919.86. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 13,662 shares of company stock valued at $2,681,664. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $180.37 on Thursday. The firm has a market capitalization of $71.38 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The business’s fifty day moving average price is $194.79 and its 200 day moving average price is $192.75. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates 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 PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.16 earnings per share. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 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.