IFP Advisors Inc Acquires 597 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

IFP Advisors Inc grew its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 14.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,664 shares of the financial services provider’s stock after acquiring an additional 597 shares during the quarter. IFP Advisors Inc’s holdings in The PNC Financial Services Group were worth $900,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PNC. 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. boosted its holdings in shares of The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares during the period. Albion Financial Group UT bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $30,000. Synergy Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $32,000. Finally, Financial Life Planners bought a new stake in The PNC Financial Services Group in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $189.29, for a total value of $235,098.18. Following the transaction, the chief executive officer now directly owns 530,039 shares of the company’s stock, valued at $100,331,082.31. This represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 12,420 shares of company stock worth $2,445,461. Company insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PNC shares. Morgan Stanley lifted 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. Piper Sandler lifted their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Stephens reaffirmed an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Truist Financial lifted their price objective on shares of 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 raised their target price 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 assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Stock Performance

PNC opened at $188.46 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The business has a 50 day moving average of $195.43 and a 200-day moving average of $192.15. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. The stock has a market cap of $74.78 billion, a price-to-earnings ratio of 13.71, 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, topping analysts’ consensus estimates 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 company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the company posted $3.16 EPS. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 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.