Aaron Wealth Advisors LLC raised its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 14.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,598 shares of the financial services provider’s stock after acquiring an additional 202 shares during the period. Aaron Wealth Advisors LLC’s holdings in The PNC Financial Services Group were worth $308,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Winch Advisory Services LLC purchased a new position in The PNC Financial Services Group during the fourth quarter valued at $25,000. Valley Wealth Managers Inc. boosted its holdings in shares of The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of The PNC Financial Services Group during the third quarter valued at about $51,000. Quarry LP increased its holdings in shares of The PNC Financial Services Group by 141.7% in the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 170 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of The PNC Financial Services Group by 231.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock worth $58,000 after buying an additional 220 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.
Insider Transactions at The PNC Financial Services Group
In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, November 1st. The shares were sold at an average price of $189.50, for a total value of $235,359.00. Following the completion of the transaction, the chief executive officer now owns 543,523 shares in the company, valued at $102,997,608.50. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,171 shares of company stock valued at $5,768,325. Company insiders own 0.42% of the company’s stock.
Analyst Ratings Changes
A number of research firms have issued reports on PNC. Keefe, Bruyette & Woods lifted their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company boosted their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Compass Point increased their price objective on shares of 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. Truist Financial boosted their target price on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a report on Friday. Finally, Citigroup increased 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 report on Monday, November 25th. Two research 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $205.00.
Read Our Latest Report on PNC
The PNC Financial Services Group Stock Performance
The PNC Financial Services Group stock opened at $198.36 on Tuesday. 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 company has a market capitalization of $78.71 billion, a PE ratio of 16.77, a P/E/G ratio of 1.77 and a beta of 1.16. The company has a 50 day moving average price of $201.40 and a 200-day moving average price of $187.43. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) 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 analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.16 EPS. As a group, equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.47 earnings per share for the current year.
The PNC Financial Services Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.23%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.
About The PNC Financial Services Group
(Free Report)
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.
See Also
Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report).
Receive News & Ratings for The PNC Financial Services Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for The PNC Financial Services Group and related companies with MarketBeat.com’s FREE daily email newsletter.
