Financial Counselors Inc. Purchases 2,988 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Financial Counselors Inc. grew its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.2% during the 4th quarter, HoldingsChannel reports. The fund owned 136,524 shares of the financial services provider’s stock after acquiring an additional 2,988 shares during the quarter. Financial Counselors Inc.’s holdings in The PNC Financial Services Group were worth $26,329,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P raised its holdings in The PNC Financial Services Group by 8.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after buying an additional 50 shares during the last quarter. Baltimore Washington Financial Advisors Inc. raised its position in The PNC Financial Services Group by 3.1% during the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock valued at $324,000 after purchasing an additional 51 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in The PNC Financial Services Group by 2.4% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock worth $434,000 after buying an additional 53 shares during the period. Transcend Capital Advisors LLC increased its stake in shares of The PNC Financial Services Group by 1.8% during the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock valued at $616,000 after buying an additional 55 shares during the period. Finally, Valmark Advisers Inc. raised its holdings in shares of The PNC Financial Services Group by 1.4% during the fourth quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock valued at $773,000 after acquiring an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $172.00, for a total value of $213,624.00. Following the transaction, the chief executive officer now owns 566,057 shares of the company’s stock, valued at approximately $97,361,804. This represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 13,662 shares of company stock valued at $2,582,789 in the last ninety days. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Trading Up 0.2 %

Shares of NYSE:PNC opened at $176.84 on Wednesday. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. The stock’s fifty day moving average price is $189.33 and its 200-day moving average price is $192.31. The company has a market cap of $69.98 billion, a P/E ratio of 12.86, a PEG ratio of 1.55 and a beta of 1.13. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter last year, the firm posted $3.16 EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. Sell-side 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.62%. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Compass Point upped their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Stephens restated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Piper Sandler upped 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. Truist Financial lifted 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. Finally, The Goldman Sachs Group lowered their price objective on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Two 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $201.65.

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.