Insider Buying: The PNC Financial Services Group, Inc. (NYSE:PNC) Director Acquires 100 Shares of Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) Director Douglas A. Dachille acquired 100 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were purchased at an average price of $198.13 per share, with a total value of $19,813.00. Following the completion of the purchase, the director now owns 100 shares in the company, valued at $19,813. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $198.99 on Thursday. The firm’s 50 day moving average price is $199.25 and its 200 day moving average price is $190.14. The company has a market cap of $78.96 billion, a P/E ratio of 14.47, a PEG ratio of 1.63 and a beta of 1.16. 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 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 Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the company earned $3.16 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, research 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

Institutional Investors Weigh In On The PNC Financial Services Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Czech National Bank lifted its stake in The PNC Financial Services Group by 6.8% in the third quarter. Czech National Bank now owns 80,974 shares of the financial services provider’s stock valued at $14,968,000 after buying an additional 5,150 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of The PNC Financial Services Group by 36.0% in the 3rd quarter. GAMMA Investing LLC now owns 5,703 shares of the financial services provider’s stock valued at $1,054,000 after acquiring an additional 1,509 shares during the period. Diversified Trust Co boosted its stake in The PNC Financial Services Group by 14.4% during the 3rd quarter. Diversified Trust Co now owns 4,193 shares of the financial services provider’s stock worth $775,000 after purchasing an additional 528 shares during the period. Skyline Advisors Inc. purchased a new position in The PNC Financial Services Group during the 3rd quarter worth $211,000. Finally, Axiom Advisory LLC increased its stake in The PNC Financial Services Group by 8.7% in the third quarter. Axiom Advisory LLC now owns 3,712 shares of the financial services provider’s stock valued at $651,000 after purchasing an additional 298 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Compass Point upped their price objective 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. Citigroup lifted their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. 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 research note on Friday, January 17th. Finally, Stephens reiterated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.