Elevation Point Wealth Partners LLC Purchases 5,358 Shares of The PNC Financial Services Group, Inc $PNC

Elevation Point Wealth Partners LLC increased its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 561.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,312 shares of the financial services provider’s stock after buying an additional 5,358 shares during the period. Elevation Point Wealth Partners LLC’s holdings in The PNC Financial Services Group were worth $1,268,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Westfuller Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the 3rd quarter worth $34,000. Financial Life Planners acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at $39,000. Bayforest Capital Ltd boosted its holdings in The PNC Financial Services Group by 237.1% in the third quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 147 shares in the last quarter. Corundum Trust Company INC bought a new stake in The PNC Financial Services Group in the third quarter worth $49,000. Finally, Country Trust Bank increased its position in The PNC Financial Services Group by 38.9% during the third quarter. Country Trust Bank now owns 243 shares of the financial services provider’s stock worth $49,000 after buying an additional 68 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the subject of a number of analyst reports. TD Cowen boosted their price target on The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Oppenheimer increased their price objective on The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. Keefe, Bruyette & Woods raised their price objective on The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a research note on Tuesday, January 20th. Truist Financial boosted their target price on The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a report on Thursday, December 18th. Finally, Wells Fargo & Company upped their target price on The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Fifteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.44.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Louis Robert Cestello sold 4,279 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $234.01, for a total value of $1,001,328.79. Following the sale, the executive vice president directly owned 18,867 shares in the company, valued at $4,415,066.67. This trade represents a 18.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Richard Kevin Bynum sold 7,407 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total value of $1,710,868.86. Following the transaction, the executive vice president owned 1,942 shares in the company, valued at $448,563.16. This represents a 79.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 64,186 shares of company stock valued at $14,840,973. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Down 0.3%

PNC stock opened at $200.55 on Tuesday. The stock has a market capitalization of $80.89 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 0.84 and a beta of 0.98. The company has a 50-day moving average of $221.24 and a two-hundred day moving average of $205.24. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $243.94. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.65. The firm had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.77 EPS. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio is currently 40.99%.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.