2,645 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Acquired by Hager Investment Management Services LLC

Hager Investment Management Services LLC acquired a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,645 shares of the financial services provider’s stock, valued at approximately $510,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Winch Advisory Services LLC bought a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. increased 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 worth $28,000 after purchasing an additional 140 shares in the last quarter. Albion Financial Group UT bought a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $30,000. Synergy Asset Management LLC bought a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $32,000. Finally, Financial Life Planners bought a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $37,000. 83.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on PNC shares. Piper Sandler boosted their price objective 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. The Goldman Sachs Group upped their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Citigroup upped their target price 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. Truist Financial upped their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a report on Friday, January 17th. Finally, Barclays upped their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. 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. Based on data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $205.00.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $202.11, for a total value of $251,020.62. Following the completion of the transaction, the chief executive officer now directly owns 522,587 shares of the company’s stock, valued at $105,620,058.57. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,413 shares of company stock valued at $6,037,230 over the last three months. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $199.14 on Wednesday. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26. The business has a fifty day simple moving average of $199.55 and a two-hundred day simple moving average of $189.97. 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 company has a market capitalization of $79.01 billion, a P/E ratio of 14.48, a P/E/G ratio of 1.63 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the company earned $3.16 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts expect that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is currently 46.55%.

The PNC Financial Services Group Company 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.