Roxbury Financial LLC Purchases New Shares in The PNC Financial Services Group, Inc. (NYSE:PNC)

Roxbury Financial LLC purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,179 shares of the financial services provider’s stock, valued at approximately $227,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Nations Financial Group Inc. IA ADV boosted its stake in shares of The PNC Financial Services Group by 93.4% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,406 shares of the financial services provider’s stock valued at $464,000 after purchasing an additional 1,162 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of The PNC Financial Services Group by 3.0% in the 4th quarter. Valeo Financial Advisors LLC now owns 6,759 shares of the financial services provider’s stock valued at $1,303,000 after purchasing an additional 196 shares in the last quarter. Red Cedar Investment Management LLC boosted its stake in shares of The PNC Financial Services Group by 103.8% in the 4th quarter. Red Cedar Investment Management LLC now owns 12,113 shares of the financial services provider’s stock valued at $2,336,000 after purchasing an additional 6,170 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of The PNC Financial Services Group by 4.5% in the 4th quarter. New York State Teachers Retirement System now owns 335,536 shares of the financial services provider’s stock valued at $64,708,000 after purchasing an additional 14,367 shares in the last quarter. Finally, Asset Planning Inc acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $93,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PNC shares. Stephens restated an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Barclays raised their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Citigroup raised their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. The Goldman Sachs Group raised their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Piper Sandler raised their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Price Performance

PNC opened at $193.91 on Friday. The stock has a fifty day simple moving average of $197.40 and a two-hundred day simple moving average of $190.93. 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 company has a market cap of $76.94 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 1.64 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 PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data 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 business had revenue of $5.57 billion during the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.16 earnings per share. Research analysts predict that The PNC Financial Services Group, Inc. will post 15.3 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 paid a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.30%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $202.11, for a total transaction of $251,020.62. Following the sale, the chief executive officer now directly owns 522,587 shares of the company’s stock, valued at $105,620,058.57. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 13,662 shares of company stock valued at $2,730,549. Insiders own 0.42% of the company’s stock.

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.