Cairn Investment Group Inc. Buys Shares of 1,070 The PNC Financial Services Group, Inc. (NYSE:PNC)

Cairn Investment Group Inc. bought a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,070 shares of the financial services provider’s stock, valued at approximately $206,000.

A number of other hedge funds have also made changes to their positions in the company. OLD National Bancorp IN raised its holdings in shares of The PNC Financial Services Group by 5.1% during the fourth quarter. OLD National Bancorp IN now owns 3,535 shares of the financial services provider’s stock valued at $682,000 after acquiring an additional 171 shares during the last quarter. DMC Group LLC raised its holdings in shares of The PNC Financial Services Group by 12.7% during the fourth quarter. DMC Group LLC now owns 3,398 shares of the financial services provider’s stock valued at $655,000 after acquiring an additional 382 shares during the last quarter. 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. Gries Financial LLC increased its holdings in shares of The PNC Financial Services Group by 1.7% in the fourth quarter. Gries Financial LLC now owns 12,674 shares of the financial services provider’s stock valued at $2,444,000 after purchasing an additional 214 shares during the last quarter. Finally, Foster & Motley Inc. increased its holdings in shares of The PNC Financial Services Group by 50.8% in the fourth quarter. Foster & Motley Inc. now owns 2,489 shares of the financial services provider’s stock valued at $480,000 after purchasing an additional 838 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. 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 report on Monday, November 25th. Truist Financial increased their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a report on Friday, January 17th. Barclays increased their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. The Goldman Sachs Group raised their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Piper Sandler raised their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Trading Up 0.3 %

PNC opened at $202.29 on Thursday. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26. The business has a fifty day simple moving average of $200.14 and a 200-day simple moving average of $189.26. The firm has a market cap of $80.26 billion, a P/E ratio of 14.71, a P/E/G ratio of 1.59 and a beta of 1.16. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The firm 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 PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $3.16 earnings per share. On average, equities analysts expect that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors 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 dividend on an annualized basis and a yield of 3.16%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction dated 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 directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $216.01, for a total value of $268,284.42. Following the sale, the chief executive officer now directly owns 533,765 shares of the company’s stock, valued at $115,298,577.65. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,413 shares of company stock worth $6,021,569. Company insiders own 0.42% of the company’s stock.

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.