World Investment Advisors Buys 6,069 Shares of The PNC Financial Services Group, Inc $PNC

World Investment Advisors grew its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 123.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,984 shares of the financial services provider’s stock after buying an additional 6,069 shares during the period. World Investment Advisors’ holdings in The PNC Financial Services Group were worth $2,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of The PNC Financial Services Group by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock valued at $8,114,168,000 after buying an additional 408,464 shares during the last quarter. State Street Corp raised its position in shares of The PNC Financial Services Group by 0.5% during the third quarter. State Street Corp now owns 17,242,132 shares of the financial services provider’s stock valued at $3,464,462,000 after buying an additional 85,291 shares during the last quarter. Capital International Investors raised its position in shares of The PNC Financial Services Group by 6.0% during the third quarter. Capital International Investors now owns 10,835,687 shares of the financial services provider’s stock valued at $2,177,318,000 after buying an additional 609,755 shares during the last quarter. Viking Global Investors LP raised its position in shares of The PNC Financial Services Group by 234.9% during the third quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock valued at $1,598,753,000 after buying an additional 5,581,102 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of The PNC Financial Services Group by 32.6% during the third quarter. AQR Capital Management LLC now owns 4,425,905 shares of the financial services provider’s stock valued at $889,297,000 after buying an additional 1,086,941 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Bank of America boosted their price target on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Citigroup boosted their price target on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Truist Financial boosted their price target on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a “hold” rating in a research report on Thursday, April 16th. Barclays boosted their price target on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Finally, Jefferies Financial Group assumed coverage on shares of The PNC Financial Services Group in a research report on Thursday, March 26th. They issued a “buy” rating and a $250.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and an average target price of $243.11.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 50,000 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the completion of the sale, the chief executive officer directly owned 554,274 shares of the company’s stock, valued at approximately $127,970,781.12. The trade was a 8.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard Kevin Bynum sold 7,407 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the sale, the executive vice president directly owned 1,942 shares of the company’s stock, 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. Insiders sold a total of 64,186 shares of company stock valued at $14,840,973 over the last ninety days. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Down 0.1%

NYSE PNC opened at $213.17 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The company has a fifty day moving average of $213.47 and a two-hundred day moving average of $210.57. The firm has a market capitalization of $85.60 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 0.89 and a beta of 0.94. The PNC Financial Services Group, Inc has a 52 week low of $169.32 and a 52 week high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping the consensus estimate of $3.92 by $0.40. The company had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The PNC Financial Services Group’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.51 earnings per share. On average, analysts predict that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group’s payout ratio is currently 39.51%.

About The PNC Financial Services Group

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.