Vise Technologies Inc. Raises Stock Position in The PNC Financial Services Group, Inc $PNC

Vise Technologies Inc. raised its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 70.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,098 shares of the financial services provider’s stock after buying an additional 4,577 shares during the period. Vise Technologies Inc.’s holdings in The PNC Financial Services Group were worth $2,317,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE increased its holdings in The PNC Financial Services Group by 13.4% in the third quarter. US Bancorp DE now owns 287,236 shares of the financial services provider’s stock valued at $57,714,000 after buying an additional 34,009 shares in the last quarter. Vanguard Group Inc. increased its holdings in The PNC Financial Services Group by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock valued at $8,114,168,000 after buying an additional 408,464 shares in the last quarter. Teamwork Financial Advisors LLC purchased a new position in The PNC Financial Services Group in the fourth quarter valued at about $13,711,000. Truist Financial Corp increased its holdings in The PNC Financial Services Group by 3.3% in the fourth quarter. Truist Financial Corp now owns 1,242,483 shares of the financial services provider’s stock valued at $259,344,000 after buying an additional 39,589 shares in the last quarter. Finally, Candriam S.C.A. increased its holdings in The PNC Financial Services Group by 8.0% in the third quarter. Candriam S.C.A. now owns 178,811 shares of the financial services provider’s stock valued at $35,928,000 after buying an additional 13,321 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 45,000 shares of the firm’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 sale, the director owned 10,749 shares in the company, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on PNC shares. Barclays increased their price target on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Citigroup increased their price target on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. increased their price target on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. Finally, Keefe, Bruyette & Woods increased their price target on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $243.11.

The PNC Financial Services Group Stock Up 0.7%

Shares of NYSE PNC opened at $228.76 on Friday. The PNC Financial Services Group, Inc has a 1 year low of $172.73 and a 1 year high of $243.94. The firm’s 50 day moving average price is $218.12 and its 200 day moving average price is $214.36. The firm has a market cap of $91.86 billion, a P/E ratio of 13.29, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same quarter last year, the business earned $3.51 earnings per share. The PNC Financial Services Group’s revenue was up 13.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were given 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 yield of 3.0%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 39.51%.

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.