Tilt Investment Management Holdings PBC Acquires New Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Tilt Investment Management Holdings PBC acquired a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,604 shares of the financial services provider’s stock, valued at approximately $248,000.

A number of other hedge funds also recently bought and sold shares of PNC. Steph & Co. increased its position in The PNC Financial Services Group by 1.8% in the fourth quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock worth $576,000 after buying an additional 67 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of The PNC Financial Services Group by 33.5% in the first quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 67 shares during the period. Bangor Savings Bank boosted its stake in shares of The PNC Financial Services Group by 1.2% in the fourth quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock worth $888,000 after acquiring an additional 69 shares during the period. Oakworth Capital Inc. boosted its stake in shares of The PNC Financial Services Group by 11.7% in the fourth quarter. Oakworth Capital Inc. now owns 715 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 75 shares during the period. Finally, Caprock Group LLC boosted its stake in shares of The PNC Financial Services Group by 0.9% in the fourth quarter. Caprock Group LLC now owns 8,574 shares of the financial services provider’s stock worth $1,328,000 after acquiring an additional 79 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday. Wells Fargo & Company upped their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. StockNews.com raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Thursday. Morgan Stanley upped their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 30th. Finally, The Goldman Sachs Group increased their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $156.63.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the sale, the executive vice president now directly owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $147.00 on Friday. The firm has a market capitalization of $58.48 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 1.69 and a beta of 1.18. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24. The business has a 50 day simple moving average of $151.80 and a 200-day simple moving average of $141.72. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period last year, the company earned $3.98 EPS. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 12.47 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 4.22%. The PNC Financial Services Group’s payout ratio is 52.06%.

The PNC Financial Services Group Company Profile

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.