Pallas Capital Advisors LLC Acquires 65 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Pallas Capital Advisors LLC raised its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,733 shares of the financial services provider’s stock after purchasing an additional 65 shares during the quarter. Pallas Capital Advisors LLC’s holdings in The PNC Financial Services Group were worth $4,770,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its position in The PNC Financial Services Group by 12,940.0% during the third 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 in the last quarter. Assenagon Asset Management S.A. grew its position in shares of The PNC Financial Services Group by 160.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock worth $129,836,000 after buying an additional 433,178 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of The PNC Financial Services Group by 152.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock worth $71,163,000 after acquiring an additional 276,200 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in The PNC Financial Services Group by 88.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock valued at $108,217,000 after acquiring an additional 274,186 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in The PNC Financial Services Group by 24.1% in the second quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock worth $209,962,000 after purchasing an additional 262,654 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Barclays lifted their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Piper Sandler raised their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Evercore ISI upped their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group raised their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Two 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 company’s stock. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and an average price target of $203.29.

The PNC Financial Services Group Trading Up 1.9 %

Shares of PNC traded up $3.64 during mid-day trading on Monday, reaching $192.66. The company had a trading volume of 1,854,405 shares, compared to its average volume of 2,032,036. The stock has a market cap of $76.44 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm has a fifty day simple moving average of $201.47 and a 200-day simple moving average of $186.01. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the firm posted $3.60 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.32%. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $190.27, for a total value of $236,315.34. Following the completion of the transaction, the chief executive officer now directly owns 544,765 shares of the company’s stock, valued at $103,652,436.55. This represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the transaction, the director now owns 915 shares of the company’s stock, valued at $170,299.80. This trade represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,272 shares of company stock valued at $6,164,890 in the last three months. Corporate insiders own 0.42% of the company’s stock.

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.