The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Bleakley Financial Group LLC

Bleakley Financial Group LLC grew its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,411 shares of the financial services provider’s stock after acquiring an additional 653 shares during the period. Bleakley Financial Group LLC’s holdings in The PNC Financial Services Group were worth $3,165,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Winch Advisory Services LLC bought a new stake in The PNC Financial Services Group during the 4th quarter valued at $25,000. Richardson Financial Services Inc. lifted its stake in 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 purchasing an additional 140 shares during the last quarter. Albion Financial Group UT acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $30,000. Synergy Asset Management LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $32,000. Finally, Financial Life Planners purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 1.8 %

NYSE:PNC opened at $202.37 on Friday. 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 firm has a market cap of $80.30 billion, a P/E ratio of 14.72, a P/E/G ratio of 1.63 and a beta of 1.16. The firm has a 50-day simple moving average of $198.93 and a two-hundred day simple moving average of $190.20. 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 PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the firm earned $3.16 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts predict that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.16%. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PNC. Keefe, Bruyette & Woods boosted their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Evercore ISI boosted their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Citigroup increased 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 report on Monday, November 25th. Finally, Truist Financial upped their target price on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus price target of $205.00.

Insider Activity at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the transaction, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $208.12, for a total value of $258,485.04. Following the completion of the transaction, the chief executive officer now owns 536,249 shares of the company’s stock, valued at $111,604,141.88. The trade was a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,413 shares of company stock worth $6,037,230. 0.42% of the stock is owned by company insiders.

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.