The PNC Financial Services Group, Inc $PNC Stock Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 22.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 360,055 shares of the financial services provider’s stock after purchasing an additional 65,946 shares during the quarter. Russell Investments Group Ltd. owned 0.09% of The PNC Financial Services Group worth $79,908,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in The PNC Financial Services Group in the 3rd quarter valued at about $428,000. CENTRAL TRUST Co raised its position in shares of The PNC Financial Services Group by 4.4% during the 3rd quarter. CENTRAL TRUST Co now owns 14,266 shares of the financial services provider’s stock worth $3,171,000 after acquiring an additional 599 shares in the last quarter. Fifth Third Bancorp acquired a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth about $177,938,000. Endeavor Private Wealth Inc. lifted its stake in The PNC Financial Services Group by 3.4% during the third quarter. Endeavor Private Wealth Inc. now owns 3,547 shares of the financial services provider’s stock worth $788,000 after purchasing an additional 115 shares during the last quarter. Finally, Maryland State Retirement & Pension System lifted its stake in The PNC Financial Services Group by 13.1% during the third quarter. Maryland State Retirement & Pension System now owns 24,417 shares of the financial services provider’s stock worth $5,427,000 after purchasing an additional 2,831 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PNC. Oppenheimer upped their price target on The PNC Financial Services Group from $269.00 to $274.00 and gave the company an “outperform” rating in a report on Monday, November 2nd. The Goldman Sachs Group cut their price objective on shares of The PNC Financial Services Group from $281.00 to $250.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Morgan Stanley reduced their price objective on shares of The PNC Financial Services Group from $278.00 to $273.00 and set an “equal weight” rating for the company in a research report on Friday, October 16th. Truist Financial lowered their target price on shares of The PNC Financial Services Group from $252.00 to $248.00 and set a “hold” rating for the company in a report on Monday, October 19th. Finally, Wolfe Research began coverage on shares of The PNC Financial Services Group in a research report on Tuesday, October 27th. They issued a “peer perform” rating on the stock. Seventeen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group has an average rating of “Moderate Buy” and an average target price of $266.04.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock traded up $1.23 on Friday, hitting $232.26. The stock had a trading volume of 839,740 shares, compared to its average volume of 1,785,895. The stock has a market cap of $92.15 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 1.19 and a beta of 0.92. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.28. The PNC Financial Services Group, Inc has a 52-week low of $177.08 and a 52-week high of $258.96. The company’s 50 day moving average price is $227.61 and its 200 day moving average price is $229.43.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, October 15th. The financial services provider reported $5.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.91 by $0.18. The firm had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $6.61 billion. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the business posted $4.35 EPS. On average, research analysts anticipate that The PNC Financial Services Group, Inc will post 19.24 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 5th. Stockholders of record on Wednesday, October 14th were given a dividend of $2.00 per share. The ex-dividend date was Wednesday, October 14th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.4%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 42.58%.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc. is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. It serves consumers, small businesses, corporations, government entities and institutional clients through a range of banking and financial services. PNC’s businesses include retail banking, corporate and institutional banking, and asset management. Its offerings include deposit accounts, lending, cash management, treasury services, investment and wealth management, and other financial products and services.