Aigen Investment Management LP Invests $912,000 in The PNC Financial Services Group, Inc. (NYSE:PNC)

Aigen Investment Management LP acquired a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, Holdings Channel reports. The firm acquired 4,729 shares of the financial services provider’s stock, valued at approximately $912,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PNC. Robeco Institutional Asset Management B.V. raised its position in shares of The PNC Financial Services Group by 15.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 67,361 shares of the financial services provider’s stock worth $12,452,000 after buying an additional 8,957 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of The PNC Financial Services Group in the third quarter worth $71,000. Catalina Capital Group LLC raised its position in shares of The PNC Financial Services Group by 7.5% in the third quarter. Catalina Capital Group LLC now owns 1,932 shares of the financial services provider’s stock worth $357,000 after buying an additional 135 shares in the last quarter. Radnor Capital Management LLC purchased a new stake in shares of The PNC Financial Services Group in the third quarter worth $2,555,000. Finally, Umpqua Bank raised its position in shares of The PNC Financial Services Group by 2.9% in the third quarter. Umpqua Bank now owns 11,111 shares of the financial services provider’s stock worth $2,054,000 after buying an additional 309 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 0.0 %

Shares of NYSE:PNC opened at $180.37 on Thursday. The stock’s 50-day moving average price is $194.79 and its 200-day moving average price is $192.75. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. The stock has a market capitalization of $71.38 billion, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $3.16 earnings per share. On average, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.55%. The PNC Financial Services Group’s payout ratio is presently 46.55%.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Morgan Stanley raised their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Stephens restated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Piper Sandler raised their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Compass Point raised their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and an average price target of $205.00.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $190.18, for a total value of $236,203.56. Following the sale, the chief executive officer now directly owns 569,783 shares of the company’s stock, valued at $108,361,330.94. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 13,662 shares of company stock valued at $2,681,664 over the last ninety days. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Profile

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.