Financial Management Professionals Inc. Increases Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Financial Management Professionals Inc. grew its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 13.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,780 shares of the financial services provider’s stock after acquiring an additional 337 shares during the period. Financial Management Professionals Inc.’s holdings in The PNC Financial Services Group were worth $536,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Winch Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at about $25,000. Valley Wealth Managers Inc. raised its position in shares of The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after buying an additional 200 shares in the last quarter. Quarry LP boosted its stake in The PNC Financial Services Group by 141.7% during the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 170 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in The PNC Financial Services Group in the third quarter worth about $51,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in The PNC Financial Services Group by 231.6% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock worth $58,000 after buying an additional 220 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now directly owns 915 shares in the company, valued at $170,299.80. The trade was a 48.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $189.50, for a total transaction of $235,359.00. Following the transaction, the chief executive officer now owns 543,523 shares of the company’s stock, valued at $102,997,608.50. The trade was a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,030 shares of company stock worth $5,928,202 in the last ninety days. 0.42% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PNC has been the topic of several research reports. Evercore ISI upped their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Compass Point lifted their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Piper Sandler increased their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Barclays lifted their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Citigroup raised their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Two investment 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $205.00.

Check Out Our Latest Stock Analysis on The PNC Financial Services Group

The PNC Financial Services Group Price Performance

PNC opened at $198.36 on Friday. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26. The firm’s fifty day moving average price is $201.40 and its two-hundred day moving average price is $187.03. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $78.71 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 1.77 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last released 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 business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.16 EPS. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 13.47 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.23%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

The PNC Financial Services Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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