The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. grew its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 41,603 shares of the financial services provider’s stock after acquiring an additional 59 shares during the period. QRG Capital Management Inc.’s holdings in The PNC Financial Services Group were worth $8,023,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Versor Investments LP boosted its position in shares of The PNC Financial Services Group by 163.6% in the 4th quarter. Versor Investments LP now owns 8,700 shares of the financial services provider’s stock valued at $1,678,000 after purchasing an additional 5,400 shares during the period. Proficio Capital Partners LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at about $37,587,000. Oppenheimer & Co. Inc. boosted its holdings in shares of The PNC Financial Services Group by 9.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 13,931 shares of the financial services provider’s stock worth $2,687,000 after buying an additional 1,195 shares during the period. Schneider Downs Wealth Management Advisors LP increased its position in shares of The PNC Financial Services Group by 156.5% in the fourth quarter. Schneider Downs Wealth Management Advisors LP now owns 11,092 shares of the financial services provider’s stock worth $2,139,000 after acquiring an additional 6,767 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its holdings in shares of The PNC Financial Services Group by 2.0% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock valued at $30,202,000 after acquiring an additional 3,100 shares during the period. 83.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PNC shares. Morgan Stanley lifted their price objective on shares of 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. Truist Financial lifted their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a report on Friday, January 17th. Citigroup increased 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. The Goldman Sachs Group upped their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Piper Sandler boosted their price objective on shares of 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $188.46 on Friday. The stock has a market capitalization of $74.78 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.55 and a beta of 1.16. The business has a 50-day moving average of $195.43 and a two-hundred day moving average of $192.15. 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 company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81.

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 (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the business earned $3.16 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.40%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $209.24, for a total value of $259,876.08. Following the transaction, the chief executive officer now directly owns 532,523 shares in the company, valued at approximately $111,425,112.52. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 12,420 shares of company stock valued at $2,445,461 in the last quarter. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group 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.