Planned Solutions Inc. Makes New $84,000 Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

Planned Solutions Inc. acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 544 shares of the financial services provider’s stock, valued at approximately $84,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PNC. State Street Corp increased its holdings in shares of The PNC Financial Services Group by 1.0% in the 2nd quarter. State Street Corp now owns 17,127,040 shares of the financial services provider’s stock valued at $2,157,151,000 after acquiring an additional 170,387 shares during the period. FMR LLC increased its stake in The PNC Financial Services Group by 6.7% in the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after purchasing an additional 893,808 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of The PNC Financial Services Group by 7.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock valued at $2,064,357,000 after buying an additional 860,489 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of The PNC Financial Services Group by 2.4% during the first quarter. Geode Capital Management LLC now owns 7,219,084 shares of the financial services provider’s stock worth $915,146,000 after buying an additional 171,876 shares during the last quarter. Finally, Invesco Ltd. increased its position in The PNC Financial Services Group by 10.4% in the 3rd quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock valued at $634,024,000 after acquiring an additional 484,475 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on PNC shares. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their target price for the stock from $141.00 to $155.00 in a research note on Thursday. Stephens reiterated an “equal weight” rating and set a $138.00 target price on shares of The PNC Financial Services Group in a research report on Tuesday, December 5th. Piper Sandler increased their price objective on The PNC Financial Services Group from $125.00 to $143.00 and gave the stock a “neutral” rating in a research report on Friday, December 8th. UBS Group upped their target price on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Finally, Keefe, Bruyette & Woods boosted their price target on The PNC Financial Services Group from $125.00 to $145.00 and gave the stock an “underperform” rating in a research note on Wednesday, January 3rd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $149.59.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $159.97 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $63.64 billion, a PE ratio of 12.51, a P/E/G ratio of 1.79 and a beta of 1.17. The firm has a 50 day simple moving average of $149.73 and a 200-day simple moving average of $138.10. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $160.10.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.12 by $1.04. The PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The company had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the previous year, the firm posted $3.49 EPS. The PNC Financial Services Group’s revenue was down 7.0% on a year-over-year basis. On average, equities analysts expect that The PNC Financial Services Group, Inc. will post 12.4 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 5th. Shareholders of record on Tuesday, January 16th were paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend was Friday, January 12th. The PNC Financial Services Group’s payout ratio is 48.48%.

Insiders Place Their Bets

In other news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the transaction, the executive vice president now directly owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.42% of the stock is owned by corporate insiders.

About The PNC Financial Services Group

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.