The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Strategic Wealth Partners Ltd.

Strategic Wealth Partners Ltd. grew its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 32.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 65,099 shares of the financial services provider’s stock after purchasing an additional 15,964 shares during the period. The PNC Financial Services Group makes up 1.1% of Strategic Wealth Partners Ltd.’s holdings, making the stock its 21st largest position. Strategic Wealth Partners Ltd.’s holdings in The PNC Financial Services Group were worth $12,722,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Richardson Financial Services Inc. boosted its holdings in shares of 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 during the last quarter. Albion Financial Group UT purchased a new position in shares of The PNC Financial Services Group during the fourth quarter worth $30,000. Synergy Asset Management LLC acquired a new position in The PNC Financial Services Group during the fourth quarter valued at $32,000. Rialto Wealth Management LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter valued at $32,000. Finally, Whipplewood Advisors LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter worth about $33,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PNC. Keefe, Bruyette & Woods decreased their price objective on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a report on Wednesday, April 16th. Truist Financial decreased their price target on The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating for the company in a report 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 on the stock in a research report on Monday, March 24th. Hsbc Global Res raised shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. Finally, Wells Fargo & Company decreased their target price on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $202.67.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $179.45 on Friday. 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 stock has a market capitalization of $70.98 billion, a PE ratio of 13.05, a P/E/G ratio of 1.55 and a beta of 1.06. The PNC Financial Services Group, Inc. has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The company has a fifty day moving average of $164.86 and a two-hundred day moving average of $186.20.

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

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.57%. The PNC Financial Services Group’s payout ratio is currently 45.20%.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $192.45, for a total value of $239,022.90. Following the completion of the transaction, the chief executive officer now directly owns 571,025 shares of the company’s stock, valued at approximately $109,893,761.25. This represents a 0.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Martin Pfinsgraff acquired 1,000 shares of the firm’s stock in a transaction on Friday, April 25th. The stock was purchased at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the acquisition, the director now directly owns 2,009 shares in the company, valued at $317,863.98. This represents a 99.11% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 16,396 shares of company stock worth $2,789,603 over the last quarter. 0.41% of the stock is currently 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.