Y Intercept Hong Kong Ltd Purchases New Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Y Intercept Hong Kong Ltd purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 17,468 shares of the financial services provider’s stock, valued at approximately $3,369,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Winch Advisory Services LLC acquired a new position in The PNC Financial Services Group in the 4th quarter valued at about $25,000. Richardson Financial Services Inc. boosted its holdings in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group in the 4th quarter valued at approximately $30,000. Synergy Asset Management LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter valued at approximately $32,000. Finally, Valley Wealth Managers Inc. boosted its holdings in The PNC Financial Services Group by 20,000.0% in the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC stock opened at $187.90 on Monday. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. 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 stock’s 50 day moving average price is $196.08 and its 200 day moving average price is $191.98. The firm has a market cap of $74.55 billion, a P/E ratio of 13.67, a PEG ratio of 1.55 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the company earned $3.16 EPS. The PNC Financial Services Group’s revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts expect 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.41%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Analysts Set New Price Targets

PNC has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price objective 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. Compass Point lifted their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Stephens reaffirmed an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Truist Financial lifted their price objective 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, Citigroup boosted their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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 business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $216.01, for a total value of $268,284.42. Following the completion of the transaction, the chief executive officer now directly owns 533,765 shares in the company, valued at approximately $115,298,577.65. The trade was a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 12,420 shares of company stock worth $2,474,722. 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.