Transcend Capital Advisors LLC Has $616,000 Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Transcend Capital Advisors LLC lifted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,197 shares of the financial services provider’s stock after purchasing an additional 55 shares during the period. Transcend Capital Advisors LLC’s holdings in The PNC Financial Services Group were worth $616,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Foundations Investment Advisors LLC lifted its stake in shares of The PNC Financial Services Group by 5.9% during the third quarter. Foundations Investment Advisors LLC now owns 1,544 shares of the financial services provider’s stock valued at $285,000 after acquiring an additional 86 shares during the period. International Assets Investment Management LLC lifted its position in The PNC Financial Services Group by 12,940.0% during 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 period. Brighton Jones LLC lifted its position in The PNC Financial Services Group by 4.4% during the 3rd quarter. Brighton Jones LLC now owns 3,057 shares of the financial services provider’s stock valued at $565,000 after purchasing an additional 129 shares during the period. Dakota Wealth Management lifted its position in The PNC Financial Services Group by 5.5% during the 3rd quarter. Dakota Wealth Management now owns 4,186 shares of the financial services provider’s stock valued at $774,000 after purchasing an additional 218 shares during the period. Finally, Ballentine Partners LLC lifted its holdings in The PNC Financial Services Group by 17.9% in the third quarter. Ballentine Partners LLC now owns 6,968 shares of the financial services provider’s stock valued at $1,288,000 after buying an additional 1,056 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $202.11, for a total transaction of $251,020.62. Following the transaction, the chief executive officer now owns 522,587 shares of the company’s stock, valued at $105,620,058.57. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 12,420 shares of company stock worth $2,474,722. Corporate insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PNC shares. The Goldman Sachs Group increased their price objective on shares of 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. Morgan Stanley increased their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Truist Financial increased their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Compass Point increased their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Citigroup increased 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. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Stock Down 2.1 %

Shares of The PNC Financial Services Group stock opened at $187.90 on Friday. The business’s 50 day simple moving average is $196.08 and its 200 day simple moving average is $191.80. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26. The firm has a market cap of $74.55 billion, a PE ratio of 13.67, a P/E/G ratio of 1.55 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 (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping 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 company posted $3.16 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. On average, analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

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.