Albion Financial Group UT Takes Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Albion Financial Group UT purchased a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 157 shares of the financial services provider’s stock, valued at approximately $30,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PNC. Winch Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $25,000. Valley Wealth Managers Inc. grew its holdings in The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 200 shares during the last quarter. Quarry LP increased its position in The PNC Financial Services Group by 141.7% in the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 170 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of The PNC Financial Services Group in the third quarter worth about $51,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of The PNC Financial Services Group by 231.6% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 220 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

PNC opened at $196.41 on Thursday. The stock has a market cap of $77.93 billion, a P/E ratio of 14.28, a P/E/G ratio of 1.61 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26. 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 fifty day simple moving average of $200.92 and a 200 day simple moving average of $188.02.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping 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 company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the firm posted $3.16 earnings per share. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. On average, research analysts expect that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is 46.55%.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $189.50, for a total value of $235,359.00. Following the sale, the chief executive officer now owns 543,523 shares of the company’s stock, valued at approximately $102,997,608.50. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the transaction, the director now directly owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,413 shares of company stock worth $6,014,241 over the last ninety days. Company insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PNC shares. Keefe, Bruyette & Woods raised their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. Truist Financial boosted their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Stephens reiterated an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. Evercore ISI boosted their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Barclays raised their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $205.00.

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.