Point72 Asia Singapore Pte. Ltd. Purchases Shares of 7,921 The PNC Financial Services Group, Inc. (NYSE:PNC)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,921 shares of the financial services provider’s stock, valued at approximately $1,528,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PNC. Winch Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at $25,000. Richardson Financial Services Inc. increased its position in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Albion Financial Group UT bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $30,000. Synergy Asset Management LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $32,000. Finally, Rialto Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on PNC shares. Truist Financial reduced their price objective on The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating on the stock in a report on Wednesday, April 16th. Morgan Stanley cut their price target on The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. Citigroup lowered their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Barclays cut their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Stephens reiterated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $200.88.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $178.04 on Thursday. The PNC Financial Services Group, Inc. has a 52 week low of $145.12 and a 52 week high of $216.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The company’s 50 day moving average price is $164.57 and its two-hundred day moving average price is $186.36. The company has a market capitalization of $70.43 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.04. The firm had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. On average, analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were issued a dividend of $1.60 per share. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 3.59%. The PNC Financial Services Group’s payout ratio is presently 45.20%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Martin Pfinsgraff bought 1,000 shares of the stock in a transaction dated Friday, April 25th. The shares were bought at an average cost of $158.22 per share, with a total value of $158,220.00. Following the completion of the acquisition, the director now owns 2,009 shares of the company’s stock, valued at $317,863.98. This trade represents a 99.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $192.45, for a total value of $239,022.90. Following the completion of the sale, the chief executive officer now owns 571,025 shares of the company’s stock, valued at approximately $109,893,761.25. This trade represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,396 shares of company stock valued at $2,789,603. 0.41% of the stock is owned by corporate insiders.

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.