Plancorp LLC Acquires 92 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Plancorp LLC raised its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,423 shares of the financial services provider’s stock after purchasing an additional 92 shares during the period. Plancorp LLC’s holdings in The PNC Financial Services Group were worth $467,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth 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 buying an additional 140 shares during the period. Albion Financial Group UT bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $30,000. Rialto Wealth Management LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $32,000. Finally, Synergy Asset Management LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $32,000. Institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PNC. Stephens reiterated an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. The Goldman Sachs Group reduced their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a report on Wednesday. Piper Sandler lifted their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Barclays boosted their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Morgan Stanley boosted their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $203.71.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $171.15, for a total value of $212,568.30. Following the transaction, the chief executive officer now directly owns 567,299 shares of the company’s stock, valued at approximately $97,093,223.85. This trade represents a 0.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 12,420 shares of company stock valued at $2,369,165 in the last ninety days. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $173.35 on Friday. The business’s fifty day simple moving average is $190.03 and its 200-day simple moving average is $192.27. The company has a market cap of $68.60 billion, a PE ratio of 12.61, a PEG ratio of 1.55 and a beta of 1.13. 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 PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion for 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 revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.16 EPS. Analysts expect 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 paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is currently 46.55%.

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.