The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Edge Capital Group LLC

Edge Capital Group LLC boosted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,921 shares of the financial services provider’s stock after acquiring an additional 280 shares during the period. Edge Capital Group LLC’s holdings in The PNC Financial Services Group were worth $563,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Winch Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $25,000. Richardson Financial Services Inc. increased its holdings in The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares during the last quarter. Albion Financial Group UT acquired a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC bought a new position in The PNC Financial Services Group during the 4th quarter worth approximately $32,000. Finally, Financial Life Planners acquired a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $37,000. 83.53% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $209.24, for a total transaction of $259,876.08. Following the transaction, the chief executive officer now directly owns 532,523 shares of the company’s stock, valued at $111,425,112.52. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 13,662 shares of company stock worth $2,713,745 over the last 90 days. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $186.68 on Tuesday. The stock has a market cap of $74.07 billion, a P/E ratio of 13.58, a P/E/G ratio of 1.55 and a beta of 1.16. The firm’s 50-day simple moving average is $195.80 and its 200 day simple moving average is $192.09. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26. 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 (NYSE:PNC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $3.16 EPS. Equities analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PNC shares. Truist Financial upped their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Citigroup raised their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. 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 research report on Tuesday, December 10th. The Goldman Sachs Group increased their price objective 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. Finally, Stephens restated an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Two equities research 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, The PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Company 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.