Millstone Evans Group LLC Takes Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Millstone Evans Group LLC bought a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,153 shares of the financial services provider’s stock, valued at approximately $608,000.

A number of other large investors also recently modified their holdings of PNC. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. increased its position in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares during the last quarter. Albion Financial Group UT purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. Institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Compass Point increased 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. Citigroup increased their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, November 25th. The Goldman Sachs Group decreased their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a research report on Wednesday. Truist Financial raised their target price on 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. Finally, Stephens reissued an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Two equities 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $203.71.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $192.15, for a total transaction of $238,650.30. Following the completion of the sale, the chief executive officer now owns 527,555 shares of the company’s stock, valued at approximately $101,369,693.25. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 12,420 shares of company stock valued at $2,369,165. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $173.35 on Friday. The stock has a market cap of $68.60 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26. 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 $190.03 and a 200-day moving average of $192.22.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates 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 firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $3.16 earnings per share. Equities research 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is 46.55%.

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.