Cookson Peirce & Co. Inc. Acquires 3,851 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Cookson Peirce & Co. Inc. boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 209.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,690 shares of the financial services provider’s stock after purchasing an additional 3,851 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in The PNC Financial Services Group were worth $1,097,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PNC. Winch Advisory Services LLC bought a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. increased its stake in 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 worth $28,000 after acquiring an additional 140 shares during the last quarter. Albion Financial Group UT bought a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $30,000. Synergy Asset Management LLC bought a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $32,000. Finally, Whipplewood Advisors LLC bought a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $33,000. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on PNC shares. Truist Financial lifted their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Citigroup lifted their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Compass Point lifted their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Barclays boosted their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Price Performance

PNC opened at $180.37 on Thursday. The business has a fifty day moving average of $194.79 and a 200 day moving average of $192.75. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26. 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 stock has a market cap of $71.38 billion, a P/E ratio of 13.12, a PEG ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the business earned $3.16 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $190.18, for a total value of $236,203.56. Following the completion of the transaction, the chief executive officer now directly owns 569,783 shares of the company’s stock, valued at approximately $108,361,330.94. The trade was a 0.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 13,662 shares of company stock valued at $2,681,664. Corporate 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.