Independent Advisor Alliance Increases Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Independent Advisor Alliance lifted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 11.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 17,734 shares of the financial services provider’s stock after acquiring an additional 1,779 shares during the period. Independent Advisor Alliance’s holdings in The PNC Financial Services Group were worth $3,420,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $25,000. Richardson Financial Services Inc. grew its position 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 buying an additional 140 shares during the period. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group during the fourth quarter worth about $30,000. Rialto Wealth Management LLC bought a new stake in The PNC Financial Services Group in the fourth quarter worth about $32,000. Finally, Synergy Asset Management LLC purchased a new position in The PNC Financial Services Group in the fourth quarter valued at about $32,000. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $203.06, for a total transaction of $252,200.52. Following the sale, the chief executive officer now owns 531,281 shares in the company, valued at approximately $107,881,919.86. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 13,662 shares of company stock worth $2,643,895 over the last three months. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Trading Up 0.6 %

The PNC Financial Services Group stock opened at $171.02 on Thursday. 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, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26. The stock has a market cap of $67.68 billion, a P/E ratio of 12.44, a PEG ratio of 1.55 and a beta of 1.13. The firm’s fifty day moving average price is $192.95 and its 200-day moving average price is $192.74.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share 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 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 company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.16 EPS. Equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Citigroup raised their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Piper Sandler upped their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Barclays lifted their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Stephens restated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note 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 given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $205.00.

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.