Enhancing Capital LLC Invests $238,000 in The PNC Financial Services Group, Inc. (NYSE:PNC)

Enhancing Capital LLC bought a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,235 shares of the financial services provider’s stock, valued at approximately $238,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $25,000. Richardson Financial Services Inc. lifted its holdings in shares of The PNC Financial Services Group by 2,333.3% in the 4th 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 last quarter. Albion Financial Group UT purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $30,000. Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $32,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $32,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PNC shares. Morgan Stanley boosted their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Stephens reaffirmed an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Piper Sandler upped 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 note on Tuesday, December 3rd. Citigroup upped their price objective on 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. Finally, Truist Financial upped 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 note on Friday, January 17th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $173.20 on Wednesday. The company has a market cap of $68.54 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The stock has a 50 day simple moving average of $191.18 and a 200-day simple moving average of $192.56. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. 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 released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The business 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 company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.16 EPS. On average, equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $193.62, for a total value of $240,476.04. Following the sale, the chief executive officer now owns 528,797 shares in the company, valued at $102,385,675.14. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 13,662 shares of company stock worth $2,604,263 in the last quarter. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Company 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.