Fisher Funds Management LTD Acquires New Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Fisher Funds Management LTD 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 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 31,403 shares of the financial services provider’s stock, valued at approximately $6,058,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Winch Advisory Services LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. lifted its holdings in shares of The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Albion Financial Group UT acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter worth $30,000. Synergy Asset Management LLC purchased a new position in The PNC Financial Services Group during the 4th quarter worth $32,000. Finally, Valley Wealth Managers Inc. increased its position in The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after buying an additional 200 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PNC. Barclays raised their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Piper Sandler lifted their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Truist Financial upped 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. 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. Finally, Compass Point boosted 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. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Stock Down 2.1 %

The PNC Financial Services Group stock opened at $187.90 on Friday. The stock has a market capitalization of $74.55 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 1.55 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 stock has a 50 day moving average of $196.08 and a two-hundred day moving average of $191.80. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month 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 (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the business posted $3.16 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.41%. The PNC Financial Services Group’s dividend payout ratio (DPR) 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 PNC Financial Services Group stock in a transaction on Friday, December 6th. The stock was sold at an average price of $209.24, for a total transaction of $259,876.08. Following the completion of the transaction, the chief executive officer now directly owns 532,523 shares of the company’s stock, valued at approximately $111,425,112.52. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold 12,420 shares of company stock valued at $2,474,722 in the last quarter. 0.42% of the stock is currently owned by corporate 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.