The PNC Financial Services Group, Inc. (NYSE:PNC) Stake Raised by Ipsen Advisor Group LLC

Ipsen Advisor Group LLC raised its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,557 shares of the financial services provider’s stock after acquiring an additional 95 shares during the quarter. Ipsen Advisor Group LLC’s holdings in The PNC Financial Services Group were worth $625,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Brighton Jones LLC lifted its position in The PNC Financial Services Group by 32.2% in the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after buying an additional 984 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $72,000. Kingsview Wealth Management LLC raised its holdings in shares of The PNC Financial Services Group by 0.9% during the fourth quarter. Kingsview Wealth Management LLC now owns 18,086 shares of the financial services provider’s stock worth $3,488,000 after acquiring an additional 161 shares in the last quarter. Angeles Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter valued at $216,000. Finally, Savant Capital LLC grew its stake in The PNC Financial Services Group by 1.9% in the fourth quarter. Savant Capital LLC now owns 14,242 shares of the financial services provider’s stock valued at $2,746,000 after purchasing an additional 265 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the subject of several research reports. TD Cowen began coverage on The PNC Financial Services Group in a report on Thursday, May 15th. They set a “buy” rating and a $233.00 price target for the company. HSBC raised shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and cut their price objective for the company from $206.00 to $202.00 in a research report on Monday, March 31st. Barclays decreased their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. The Goldman Sachs Group cut their price target on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Finally, Truist Financial decreased their price objective on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating for the company in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $202.67.

Insider Buying and Selling

In related news, Director Martin Pfinsgraff purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average price of $158.22 per share, with a total value of $158,220.00. Following the purchase, the director now directly owns 2,009 shares in the company, valued at $317,863.98. This represents a 99.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $150.50, for a total value of $96,470.50. Following the completion of the sale, the chief executive officer now owns 562,291 shares in the company, valued at $84,624,795.50. This trade represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,154 shares of company stock valued at $2,525,591 over the last ninety days. 0.41% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Up 0.0%

Shares of PNC stock opened at $178.71 on Tuesday. The PNC Financial Services Group, Inc. has a 12 month low of $145.12 and a 12 month high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The firm has a market cap of $70.69 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. The stock has a 50 day moving average of $165.19 and a 200-day moving average of $183.04.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.04. The business had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were paid a $1.60 dividend. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.58%. The PNC Financial Services Group’s payout ratio is 45.20%.

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.