The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Wealthspire Advisors LLC

Wealthspire Advisors LLC increased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.3% during the 4th quarter, HoldingsChannel reports. The firm owned 6,639 shares of the financial services provider’s stock after acquiring an additional 337 shares during the period. Wealthspire Advisors LLC’s holdings in The PNC Financial Services Group were worth $1,280,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in shares of The PNC Financial Services Group by 25.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock worth $7,739,000 after acquiring an additional 8,081 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its position in The PNC Financial Services Group by 48.5% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock worth $5,160,000 after purchasing an additional 8,735 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of The PNC Financial Services Group by 45.6% in the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock valued at $1,185,000 after purchasing an additional 2,009 shares during the period. Root Financial Partners LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $346,000. Finally, Truist Financial Corp boosted its position in shares of The PNC Financial Services Group by 1.4% during the fourth quarter. Truist Financial Corp now owns 1,132,634 shares of the financial services provider’s stock worth $218,429,000 after buying an additional 15,246 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PNC has been the topic of several analyst reports. The Goldman Sachs Group raised their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Stephens reissued an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Barclays increased their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Truist Financial boosted their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $186.68 on Tuesday. The company has a market capitalization of $74.07 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a fifty day moving average of $195.80 and a 200-day moving average of $192.09. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The business 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 return on equity of 11.12% and a net margin of 17.10%. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $3.16 earnings per share. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $209.24, for a total transaction of $259,876.08. Following the transaction, the chief executive officer now directly owns 532,523 shares in the company, valued at approximately $111,425,112.52. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 13,662 shares of company stock worth $2,713,745 over the last 90 days. 0.42% of the stock is owned by company insiders.

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.