Global Financial Private Client LLC Has $269,000 Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Global Financial Private Client LLC increased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 26.7% in the 4th quarter, Holdings Channel reports. The firm owned 1,394 shares of the financial services provider’s stock after buying an additional 294 shares during the quarter. Global Financial Private Client LLC’s holdings in The PNC Financial Services Group were worth $269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Concurrent Investment Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 45.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after acquiring an additional 2,009 shares during the period. BSN CAPITAL PARTNERS Ltd acquired a new stake in The PNC Financial Services Group during the third quarter valued at approximately $12,548,000. Bleakley Financial Group LLC grew its stake in shares of The PNC Financial Services Group by 9.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after purchasing an additional 1,299 shares during the period. Deerfield Management Company L.P. Series C acquired a new position in shares of The PNC Financial Services Group in the 2nd quarter worth approximately $822,000. Finally, Aljian Capital Management LLC acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter worth approximately $839,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

PNC has been the topic of a number of analyst reports. Citigroup upped their price target 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. Stephens increased their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group upped their price objective on shares of 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, Truist Financial initiated coverage on shares of The PNC Financial Services Group in a research note on Tuesday, January 7th. They issued a “hold” rating and a $215.00 target price for the company. Two investment 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’s stock. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $203.29.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $192.66 on Tuesday. The company has a market cap of $76.44 billion, a PE ratio of 16.29, a PEG ratio of 2.11 and a beta of 1.16. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26. The company’s 50-day moving average is $201.61 and its two-hundred day moving average is $186.29.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same period in the prior year, the business posted $3.60 earnings per share. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be given a $1.60 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.32%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $192.88, for a total value of $239,556.96. Following the completion of the transaction, the chief executive officer now owns 526,313 shares of the company’s stock, valued at $101,515,251.44. The trade was a 0.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now directly owns 915 shares in the company, valued at $170,299.80. The trade was a 48.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,272 shares of company stock valued at $6,164,890 over the last three months. Company insiders own 0.42% of the company’s stock.

About The PNC Financial Services Group

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.