Brooklyn FI LLC Makes New $410,000 Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

Brooklyn FI LLC bought a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,060 shares of the financial services provider’s stock, valued at approximately $410,000.

A number of other large investors have also recently made changes to their positions in the stock. Enhancing Capital LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at approximately $238,000. Generali Asset Management SPA SGR bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $6,077,000. Horizon Investments LLC boosted its stake in shares of The PNC Financial Services Group by 1.5% in the 4th quarter. Horizon Investments LLC now owns 12,366 shares of the financial services provider’s stock worth $2,365,000 after buying an additional 177 shares during the last quarter. Mystic Asset Management Inc. grew its holdings in shares of The PNC Financial Services Group by 152.0% in the fourth quarter. Mystic Asset Management Inc. now owns 12,334 shares of the financial services provider’s stock worth $2,379,000 after acquiring an additional 7,439 shares during the period. Finally, Axxcess Wealth Management LLC grew its holdings in shares of The PNC Financial Services Group by 6.6% in the fourth quarter. Axxcess Wealth Management LLC now owns 20,502 shares of the financial services provider’s stock worth $3,954,000 after acquiring an additional 1,261 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were 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 in the company, valued at approximately $105,620,058.57. This represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 13,662 shares of company stock worth $2,604,263. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Performance

PNC opened at $173.86 on Thursday. The stock has a market capitalization of $68.81 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.55 and a beta of 1.13. 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 debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The company has a fifty day moving average of $190.77 and a 200 day moving average of $192.43.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates 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 business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.16 earnings per share. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.68%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PNC shares. Citigroup raised their target price on 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. Morgan Stanley raised their price objective 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. Stephens reaffirmed an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday, January 17th. Truist Financial increased their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Finally, Piper Sandler boosted 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 research report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $203.71.

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.