Foundations Investment Advisors LLC Acquires 198 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Foundations Investment Advisors LLC increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 12.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,742 shares of the financial services provider’s stock after purchasing an additional 198 shares during the quarter. Foundations Investment Advisors LLC’s holdings in The PNC Financial Services Group were worth $336,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its holdings in shares of The PNC Financial Services Group by 12,940.0% in 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. raised its position in 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 valued at $129,836,000 after buying an additional 433,178 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in The PNC Financial Services Group by 88.1% in the 3rd 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 in the last quarter. Toronto Dominion Bank boosted its position in The PNC Financial Services Group by 129.3% during the 3rd quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider’s stock worth $82,768,000 after acquiring an additional 252,473 shares during the last quarter. Finally, Eastern Bank grew its stake in shares of The PNC Financial Services Group by 1,884.1% during the 3rd quarter. Eastern Bank now owns 248,812 shares of the financial services provider’s stock worth $45,993,000 after acquiring an additional 236,272 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on PNC shares. Barclays boosted their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Truist Financial increased their price objective on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods increased their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Finally, Evercore ISI raised their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $200.63 on Friday. The company’s 50-day moving average is $200.04 and its 200-day moving average is $189.44. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $79.60 billion, a PE ratio of 14.59, a PEG ratio of 1.64 and a beta of 1.16. 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 quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the business posted $3.16 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company 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 dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

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 PNC Financial Services Group stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $196.17, for a total value of $243,643.14. Following the completion of the sale, the chief executive officer now owns 523,829 shares in the company, valued at $102,759,534.93. The trade was a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction that occurred 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 transaction, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,171 shares of company stock valued at $5,786,210. 0.42% of the stock is currently owned by corporate insiders.

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.