The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 114,536 shares of the financial services provider’s stock after buying an additional 421 shares during the period. Arizona State Retirement System’s holdings in The PNC Financial Services Group were worth $22,088,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Winch Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. increased its stake in shares of The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insiders Place Their Bets

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 13th. The shares were sold at an average price of $203.06, for a total transaction of $252,200.52. Following the transaction, the chief executive officer now directly owns 531,281 shares in the company, valued at approximately $107,881,919.86. 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. In the last three months, insiders have sold 13,662 shares of company stock worth $2,681,664. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 0.0 %

The PNC Financial Services Group stock opened at $180.37 on Thursday. 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 firm has a market cap of $71.38 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. The firm’s 50 day moving average price is $194.79 and its two-hundred day moving average price is $192.75.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly 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 firm had revenue of $5.57 billion for the quarter, compared to analyst estimates 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 firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.16 earnings per share. On average, research analysts predict 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 disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.55%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. The Goldman Sachs Group raised their price target on shares of 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. Citigroup raised their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Piper Sandler raised their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Truist Financial boosted their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Finally, Compass Point boosted their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a 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 data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus 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.