1,793 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Purchased by Root Financial Partners LLC

Root Financial Partners LLC acquired a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,793 shares of the financial services provider’s stock, valued at approximately $346,000.

A number of other hedge funds have also modified their holdings of PNC. State Street Corp grew its stake in The PNC Financial Services Group by 0.6% in the third quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock valued at $3,197,791,000 after purchasing an additional 100,573 shares in the last quarter. Franklin Resources Inc. grew its stake in The PNC Financial Services Group by 1.2% in the third quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock valued at $1,939,154,000 after purchasing an additional 123,994 shares in the last quarter. Geode Capital Management LLC grew its stake in The PNC Financial Services Group by 2.0% in the third quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock valued at $1,541,155,000 after purchasing an additional 166,138 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in The PNC Financial Services Group by 1.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,950,394 shares of the financial services provider’s stock valued at $545,380,000 after purchasing an additional 42,887 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in The PNC Financial Services Group by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,440,098 shares of the financial services provider’s stock valued at $451,052,000 after purchasing an additional 6,438 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, November 29th. The stock was sold at an average price of $216.01, for a total value of $268,284.42. Following the transaction, the chief executive officer now owns 533,765 shares in the company, valued at approximately $115,298,577.65. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 13,662 shares of company stock valued at $2,730,549 in the last three months. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $193.91 on Friday. The stock has a market capitalization of $76.94 billion, a PE ratio of 14.10, a P/E/G ratio of 1.64 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 business has a fifty day moving average price of $197.40 and a two-hundred day moving average price of $190.93. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion during 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 company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.16 EPS. As a group, equities analysts predict that The PNC Financial Services Group, Inc. will post 15.3 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.30%. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PNC. The Goldman Sachs Group raised their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Piper Sandler raised their price objective 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. Morgan Stanley raised their price objective 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. Truist Financial raised their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Finally, Compass Point raised their price objective 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 investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $205.00.

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.