The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by New Hampshire Trust

New Hampshire Trust boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,065 shares of the financial services provider’s stock after purchasing an additional 218 shares during the period. New Hampshire Trust’s holdings in The PNC Financial Services Group were worth $2,520,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PNC. Amplius Wealth Advisors LLC grew its stake in shares of The PNC Financial Services Group by 10.0% in the 4th quarter. Amplius Wealth Advisors LLC now owns 1,325 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 120 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in The PNC Financial Services Group by 11.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 31,988 shares of the financial services provider’s stock worth $6,169,000 after buying an additional 3,411 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of The PNC Financial Services Group by 0.5% in the fourth quarter. UMB Bank n.a. now owns 14,804 shares of the financial services provider’s stock valued at $2,855,000 after buying an additional 76 shares in the last quarter. City Holding Co. lifted its position in shares of The PNC Financial Services Group by 6.6% during the 4th quarter. City Holding Co. now owns 2,132 shares of the financial services provider’s stock valued at $411,000 after acquiring an additional 132 shares during the last quarter. Finally, Grove Bank & Trust lifted its position in shares of The PNC Financial Services Group by 10.5% during the 4th quarter. Grove Bank & Trust now owns 3,931 shares of the financial services provider’s stock valued at $758,000 after acquiring an additional 373 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PNC shares. Citigroup boosted their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Piper Sandler boosted their price objective 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. Stephens reiterated an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday. Keefe, Bruyette & Woods lifted their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group Stock Up 0.9 %

Shares of The PNC Financial Services Group stock opened at $198.36 on Tuesday. The stock has a 50-day simple moving average of $201.40 and a 200-day simple moving average of $187.43. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26. The firm has a market cap of $78.71 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 1.85 and a beta of 1.16. 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 posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.16 earnings per share. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.03 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.23%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $189.50, for a total transaction of $235,359.00. Following the completion of the transaction, the chief executive officer now owns 543,523 shares of the company’s stock, valued at $102,997,608.50. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,171 shares of company stock valued at $5,768,325 over the last quarter. Insiders own 0.42% of the company’s stock.

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.