Siemens Fonds Invest GmbH Purchases 3,683 Shares of The PNC Financial Services Group, Inc $PNC

Siemens Fonds Invest GmbH boosted its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 13.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 32,013 shares of the financial services provider’s stock after purchasing an additional 3,683 shares during the period. Siemens Fonds Invest GmbH’s holdings in The PNC Financial Services Group were worth $6,757,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Rothschild Wealth LLC lifted its holdings in The PNC Financial Services Group by 86.6% during the 4th quarter. Rothschild Wealth LLC now owns 2,528 shares of the financial services provider’s stock valued at $528,000 after buying an additional 1,173 shares in the last quarter. L2 Asset Management LLC lifted its holdings in The PNC Financial Services Group by 6.7% during the 4th quarter. L2 Asset Management LLC now owns 1,971 shares of the financial services provider’s stock valued at $411,000 after buying an additional 123 shares in the last quarter. 71 West Capital Partners bought a new stake in The PNC Financial Services Group during the 4th quarter valued at about $281,000. Alberta Investment Management Corp lifted its holdings in The PNC Financial Services Group by 99.6% during the 4th quarter. Alberta Investment Management Corp now owns 54,900 shares of the financial services provider’s stock valued at $11,459,000 after buying an additional 27,400 shares in the last quarter. Finally, Faithward Advisors LLC lifted its holdings in The PNC Financial Services Group by 3.6% during the 4th quarter. Faithward Advisors LLC now owns 4,927 shares of the financial services provider’s stock valued at $1,028,000 after buying an additional 171 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 1.8%

NYSE:PNC opened at $234.71 on Wednesday. The PNC Financial Services Group, Inc has a one year low of $172.88 and a one year high of $243.94. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a market cap of $94.25 billion, a P/E ratio of 13.64, a P/E/G ratio of 0.96 and a beta of 0.92. The firm has a 50-day simple moving average of $221.67 and a 200-day simple moving average of $216.86.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the previous year, the business posted $3.51 EPS. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities analysts anticipate that The PNC Financial Services Group, Inc will post 18.79 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were issued a $1.70 dividend. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 annualized dividend and a dividend yield of 2.9%. The PNC Financial Services Group’s payout ratio is currently 39.51%.

Insider Activity

In other news, EVP Stephanie Novosel sold 1,800 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. The trade was a 36.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the transaction, the executive vice president directly owned 5,059 shares in the company, valued at approximately $1,204,750.26. The trade was a 22.87% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 48,300 shares of company stock worth $10,694,574. 0.38% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of The PNC Financial Services Group in a report on Thursday, March 26th. They set a “buy” rating and a $250.00 price objective for the company. Bank of America lifted their price objective on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Truist Financial lifted their price objective on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a report on Thursday, April 16th. Royal Bank Of Canada reiterated an “outperform” rating and set a $235.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Finally, Oppenheimer lifted their price objective on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and a consensus target price of $246.72.

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.