The PNC Financial Services Group, Inc $PNC Holdings Increased by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC grew its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 57.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 49,094 shares of the financial services provider’s stock after acquiring an additional 17,835 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in The PNC Financial Services Group were worth $10,247,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PNC. Quarry LP acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter worth approximately $25,000. Modus Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $29,000. Beacon Financial Strategies CORP acquired a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $35,000. JPL Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter worth approximately $37,000. Finally, Financial Life Planners acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter worth approximately $39,000. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Stephanie Novosel sold 1,800 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $228.73, for a total transaction of $411,714.00. Following the transaction, the executive vice president directly owned 3,107 shares in the company, valued at $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.38% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PNC shares. Jefferies Financial Group started coverage on shares of The PNC Financial Services Group in a research note on Thursday, March 26th. They issued a “buy” rating and a $250.00 price objective on the stock. Truist Financial lifted their price objective on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a “hold” rating in a research note on Thursday, April 16th. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Finally, Citigroup lifted their price objective on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and a consensus price target of $243.11.

The PNC Financial Services Group Stock Down 0.6%

PNC stock opened at $227.02 on Tuesday. The PNC Financial Services Group, Inc has a 52-week low of $172.73 and a 52-week high of $243.94. The company’s 50 day simple moving average is $218.55 and its 200-day simple moving average is $214.93. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market capitalization of $91.17 billion, a P/E ratio of 13.19, a P/E/G ratio of 0.95 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The business had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the previous year, the business earned $3.51 earnings per share. The firm’s revenue was up 13.1% compared to the same quarter last year. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were issued a dividend of $1.70 per share. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.0%. The PNC Financial Services Group’s payout ratio is currently 39.51%.

The PNC Financial Services Group Profile

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.