The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Certuity LLC

Certuity LLC raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,193 shares of the financial services provider’s stock after purchasing an additional 2,777 shares during the quarter. The PNC Financial Services Group accounts for 2.2% of Certuity LLC’s holdings, making the stock its 11th largest holding. Certuity LLC’s holdings in The PNC Financial Services Group were worth $20,479,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PNC. International Assets Investment Management LLC increased its holdings in The PNC Financial Services Group by 12,940.0% in the 3rd quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock valued at $99,262,000 after purchasing an additional 532,871 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of The PNC Financial Services Group by 160.9% during the third quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock worth $129,836,000 after buying an additional 433,178 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of The PNC Financial Services Group by 88.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock valued at $108,217,000 after buying an additional 274,186 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of The PNC Financial Services Group by 129.3% in the 3rd quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider’s stock valued at $82,768,000 after buying an additional 252,473 shares during the period. Finally, Eastern Bank lifted its stake in The PNC Financial Services Group by 1,884.1% during the 3rd quarter. Eastern Bank now owns 248,812 shares of the financial services provider’s stock worth $45,993,000 after acquiring an additional 236,272 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Up 1.1 %

PNC opened at $199.37 on Wednesday. The stock has a market capitalization of $79.10 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. 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 PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26. The business’s 50-day simple moving average is $198.12 and its 200-day simple moving average is $190.74.

The PNC Financial Services Group (NYSE:PNC) last issued 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 company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations 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 firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.16 earnings per share. Analysts anticipate that The PNC Financial Services Group, Inc. will post 15.3 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. Shareholders 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 payout ratio is currently 46.55%.

Analysts Set New Price Targets

Several equities analysts have weighed in on PNC shares. Stephens reaffirmed an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Piper Sandler increased their target price on shares of 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. Evercore ISI boosted their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Barclays lifted 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. 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 report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $205.00.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $208.12, for a total value of $258,485.04. Following the transaction, the chief executive officer now owns 536,249 shares of the company’s stock, valued at approximately $111,604,141.88. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 14,904 shares of company stock valued at $2,989,034. Insiders own 0.42% of the company’s stock.

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.