3,229 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Bought by one8zero8 LLC

one8zero8 LLC bought a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,229 shares of the financial services provider’s stock, valued at approximately $623,000.

Other hedge funds have also recently made changes to their positions in the company. Winch Advisory Services LLC bought a new position in The PNC Financial Services Group in the 4th quarter valued at approximately $25,000. Richardson Financial Services Inc. lifted its holdings in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $30,000. Synergy Asset Management LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at $32,000. Finally, Rialto Wealth Management LLC bought a new position in The PNC Financial Services Group during the 4th quarter worth $32,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on PNC. Truist Financial upped their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating 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 company a “neutral” rating in a research report on Friday, December 6th. Stephens restated an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Finally, Compass Point boosted their target price on shares of 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. Two equities research 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 data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Trading Up 2.3 %

NYSE PNC opened at $172.80 on Monday. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26. The business has a 50 day moving average price of $192.04 and a 200-day moving average price of $192.71. 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 company has a market cap of $68.39 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.16 earnings per share. As a group, equities 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.70%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $193.62, for a total transaction of $240,476.04. Following the completion of the sale, the chief executive officer now owns 528,797 shares in the company, valued at approximately $102,385,675.14. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 12,420 shares of company stock valued at $2,391,695 over the last ninety days. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Company 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.