Regent Peak Wealth Advisors LLC Takes Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Regent Peak Wealth Advisors LLC acquired a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 1,490 shares of the financial services provider’s stock, valued at approximately $231,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BKM Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $26,000. Fortitude Family Office LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $28,000. OFI Invest Asset Management purchased a new position in shares of The PNC Financial Services Group in the third quarter valued at $25,000. Tyler Stone Wealth Management purchased a new position in shares of The PNC Financial Services Group in the second quarter valued at $29,000. Finally, Cornerstone Planning Group LLC purchased a new position in The PNC Financial Services Group during the second quarter worth $30,000. Institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on PNC. Piper Sandler lifted their price objective on shares of The PNC Financial Services Group from $125.00 to $143.00 and gave the stock a “neutral” rating in a research note on Friday, December 8th. Stephens reaffirmed an “equal weight” rating and set a $138.00 price objective on shares of The PNC Financial Services Group in a research note on Tuesday, December 5th. Odeon Capital Group raised shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $153.38 price objective for the company in a research note on Thursday, December 14th. UBS Group lifted their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Finally, HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and lifted their target price for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $154.18.

Read Our Latest Report on PNC

The PNC Financial Services Group Stock Performance

PNC stock opened at $157.54 on Wednesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.84. The business has a 50-day moving average price of $150.84 and a 200 day moving average price of $139.37. The company has a market capitalization of $62.67 billion, a P/E ratio of 12.32, a PEG ratio of 1.84 and a beta of 1.18. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last released its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.12 by $1.04. The firm had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.30 billion. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.49 earnings per share. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 12.41 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Tuesday, January 16th were paid a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, January 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.94%. The PNC Financial Services Group’s payout ratio is 48.48%.

About The PNC Financial Services Group

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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