BSW Wealth Partners Buys 389 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

BSW Wealth Partners boosted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,231 shares of the financial services provider’s stock after purchasing an additional 389 shares during the quarter. BSW Wealth Partners’ holdings in The PNC Financial Services Group were worth $816,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stonegate Investment Group LLC boosted its holdings in shares of The PNC Financial Services Group by 7.0% during the 4th quarter. Stonegate Investment Group LLC now owns 2,825 shares of the financial services provider’s stock worth $545,000 after buying an additional 186 shares during the period. Perigon Wealth Management LLC boosted its holdings in The PNC Financial Services Group by 49.9% during the fourth quarter. Perigon Wealth Management LLC now owns 8,747 shares of the financial services provider’s stock valued at $1,719,000 after acquiring an additional 2,912 shares during the period. Buffington Mohr McNeal acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $203,000. Nilsine Partners LLC increased its stake in shares of The PNC Financial Services Group by 6.7% in the fourth quarter. Nilsine Partners LLC now owns 2,358 shares of the financial services provider’s stock worth $455,000 after purchasing an additional 149 shares during the period. Finally, Foundations Investment Advisors LLC lifted its position in shares of The PNC Financial Services Group by 12.8% during the 4th quarter. Foundations Investment Advisors LLC now owns 1,742 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 198 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Compass Point lifted their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Truist Financial increased their price target 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. Stephens reaffirmed an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report 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 stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Evercore ISI upped their price target on 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $201.70 on Wednesday. The firm has a market cap of $80.03 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.59 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 1.13. The PNC Financial Services Group, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26. The company has a 50 day moving average of $200.21 and a 200-day moving average of $189.03.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the company posted $3.16 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.17%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is presently 46.55%.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $189.29, for a total transaction of $235,098.18. Following the completion of the sale, the chief executive officer now directly owns 530,039 shares of the company’s stock, valued at $100,331,082.31. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,413 shares of company stock worth $6,021,569. Corporate 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.