The PNC Financial Services Group, Inc $PNC Shares Acquired by Perigon Wealth Management LLC

Perigon Wealth Management LLC boosted its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 30.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,825 shares of the financial services provider’s stock after purchasing an additional 2,750 shares during the quarter. Perigon Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $2,376,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNC. Sowell Financial Services LLC boosted its position in shares of The PNC Financial Services Group by 4.6% during the third quarter. Sowell Financial Services LLC now owns 3,318 shares of the financial services provider’s stock worth $667,000 after buying an additional 145 shares during the period. Sapient Capital LLC acquired a new position in The PNC Financial Services Group during the 3rd quarter worth $201,000. Rede Wealth LLC bought a new position in shares of The PNC Financial Services Group in the third quarter worth $1,057,000. NovaPoint Capital LLC acquired a new position in shares of The PNC Financial Services Group during the third quarter valued at $273,000. Finally, FSM Wealth Advisors LLC raised its stake in shares of The PNC Financial Services Group by 6.7% during the third quarter. FSM Wealth Advisors LLC now owns 3,191 shares of the financial services provider’s stock valued at $641,000 after purchasing an additional 201 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $211.94 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99. The firm has a fifty day simple moving average of $193.82 and a 200-day simple moving average of $194.04. The stock has a market capitalization of $83.11 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 1.20 and a beta of 1.01. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $214.59.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, topping the consensus estimate of $4.05 by $0.30. The firm had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.82 billion. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.49 EPS. On average, sell-side analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th were paid a dividend of $1.70 per share. The ex-dividend date was Tuesday, October 14th. This represents a $6.80 annualized dividend and a yield of 3.2%. The PNC Financial Services Group’s dividend payout ratio is presently 43.93%.

Insider Buying and Selling

In related news, EVP Michael Duane Thomas sold 1,000 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the transaction, the executive vice president owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. The trade was a 14.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the transaction, the executive vice president owned 27,335 shares of the company’s stock, valued at approximately $5,110,824.95. The trade was a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. Truist Financial raised their price objective on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a research note on Thursday, December 18th. Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. Oppenheimer decreased their price target on The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. Finally, Keefe, Bruyette & Woods lifted their price target on The PNC Financial Services Group from $215.00 to $228.00 and gave the company a “market perform” rating in a research report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and an average price target of $219.11.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.