The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Paradigm Asset Management Co. LLC

Paradigm Asset Management Co. LLC lifted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1,055.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,400 shares of the financial services provider’s stock after acquiring an additional 9,500 shares during the period. Paradigm Asset Management Co. LLC’s holdings in The PNC Financial Services Group were worth $2,006,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. State Street Corp grew its stake in shares of The PNC Financial Services Group by 0.6% in the third quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock worth $3,197,791,000 after purchasing an additional 100,573 shares in the last quarter. Franklin Resources Inc. lifted its stake in The PNC Financial Services Group by 1.2% in the 3rd quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock worth $1,939,154,000 after acquiring an additional 123,994 shares in the last quarter. Geode Capital Management LLC lifted its stake in The PNC Financial Services Group by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock worth $1,541,155,000 after acquiring an additional 166,138 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of The PNC Financial Services Group by 1.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,950,394 shares of the financial services provider’s stock valued at $545,380,000 after buying an additional 42,887 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of The PNC Financial Services Group by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,440,098 shares of the financial services provider’s stock valued at $451,052,000 after acquiring an additional 6,438 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Down 1.2 %

The PNC Financial Services Group stock opened at $191.89 on Friday. The stock has a market cap of $76.14 billion, a P/E ratio of 13.96, a PEG ratio of 1.57 and a beta of 1.16. 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’s fifty day moving average price is $196.34 and its 200-day moving average price is $191.49. 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 posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.16 earnings per share. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is 46.55%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $209.24, for a total value of $259,876.08. Following the completion of the sale, the chief executive officer now owns 532,523 shares of the company’s stock, valued at approximately $111,425,112.52. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 12,420 shares of company stock valued at $2,474,722 over the last 90 days. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

PNC has been the topic of several recent analyst reports. Morgan Stanley lifted their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Barclays boosted their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Truist Financial boosted 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. Finally, Compass Point upped their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Two equities 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.