Figure 8 Investment Strategies LLC Buys Shares of 1,334 The PNC Financial Services Group, Inc. (NYSE:PNC)

Figure 8 Investment Strategies LLC purchased a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,334 shares of the financial services provider’s stock, valued at approximately $257,000.

Several other large investors have also recently made changes to their positions in the company. State Street Corp boosted its stake in The PNC Financial Services Group by 0.6% during the 3rd quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock worth $3,197,791,000 after purchasing an additional 100,573 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of The PNC Financial Services Group by 1.2% in the third quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock valued at $1,939,154,000 after purchasing an additional 123,994 shares during the last quarter. Geode Capital Management LLC lifted its position in The PNC Financial Services Group by 2.0% during the third quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock worth $1,541,155,000 after buying an additional 166,138 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in The PNC Financial Services Group by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,950,394 shares of the financial services provider’s stock worth $545,380,000 after buying an additional 42,887 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of The PNC Financial Services Group by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,440,098 shares of the financial services provider’s stock worth $451,052,000 after acquiring an additional 6,438 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Down 0.2 %

NYSE:PNC opened at $195.23 on Friday. 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 1 year low of $139.69 and a 1 year high of $216.26. The stock has a market cap of $77.46 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.64 and a beta of 1.16. The stock has a 50-day simple moving average of $197.68 and a 200-day simple moving average of $190.90.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the business posted $3.16 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 15.3 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared 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 3.28%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PNC. Citigroup boosted their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Stephens reissued an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. The Goldman Sachs Group increased their target price on shares of 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. Truist Financial upped their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Finally, Wells Fargo & Company lifted their price objective 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $205.00.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $216.01, for a total transaction of $268,284.42. Following the completion of the sale, the chief executive officer now directly owns 533,765 shares of the company’s stock, valued at approximately $115,298,577.65. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders sold 13,662 shares of company stock worth $2,730,549. 0.42% of the stock is owned by insiders.

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.