17,614 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Purchased by Kentucky Trust Co

Kentucky Trust Co bought a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 17,614 shares of the financial services provider’s stock, valued at approximately $3,397,000. The PNC Financial Services Group makes up approximately 2.0% of Kentucky Trust Co’s investment portfolio, making the stock its 9th biggest position.

Other hedge funds have also made changes to their positions in the company. Winch Advisory Services LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at about $25,000. Richardson Financial Services Inc. increased its position in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Albion Financial Group UT acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at about $30,000. Synergy Asset Management LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at about $32,000. Finally, Financial Life Planners bought a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the topic of several recent analyst reports. Citigroup lifted their price objective 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 lifted their price objective 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. Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. Finally, Compass Point boosted their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $199.37 on Wednesday. The stock has a market capitalization of $79.10 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 1.64 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26. The stock’s 50 day moving average price is $198.12 and its two-hundred day moving average price is $190.74. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $3.16 EPS. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 15.3 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $205.98, for a total value of $255,827.16. Following the completion of the sale, the chief executive officer now owns 535,007 shares of the company’s stock, valued at approximately $110,200,741.86. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 14,904 shares of company stock valued at $2,989,034. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group 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.