The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC increased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 19,279.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,149,008 shares of the financial services provider’s stock after acquiring an additional 1,143,079 shares during the quarter. GAMMA Investing LLC’s holdings in The PNC Financial Services Group were worth $201,961,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $1,352,151,000. Leigh Baldwin & CO. LLC acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $299,864,000. Schroder Investment Management Group boosted its holdings in shares of The PNC Financial Services Group by 166.1% during the fourth quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider’s stock worth $265,436,000 after purchasing an additional 860,554 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in The PNC Financial Services Group by 10.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock worth $1,453,763,000 after buying an additional 726,115 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in The PNC Financial Services Group by 22.5% in the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock worth $746,435,000 after buying an additional 710,311 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

PNC has been the topic of several research analyst reports. Truist Financial decreased their target price on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating on the stock in a research report on Wednesday, April 16th. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. Wells Fargo & Company decreased their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Citigroup reduced their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Finally, Keefe, Bruyette & Woods reduced their target price on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating on the stock in a report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $202.67.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $173.86 on Friday. The PNC Financial Services Group, Inc. has a 12 month low of $145.12 and a 12 month high of $216.26. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $68.77 billion, a P/E ratio of 12.64, a P/E/G ratio of 1.55 and a beta of 1.06. The company’s fifty day moving average price is $165.07 and its two-hundred day moving average price is $184.48.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data 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 PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. On average, research analysts anticipate 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 firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group’s payout ratio is 45.20%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The shares were purchased 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 directly owns 2,009 shares of the company’s stock, valued at approximately $317,863.98. The trade was a 99.11% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $150.50, for a total transaction of $96,470.50. Following the completion of the sale, the chief executive officer now owns 562,291 shares in the company, valued at approximately $84,624,795.50. This trade represents a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,396 shares of company stock valued at $2,747,698 in the last three months. Corporate insiders own 0.41% of the company’s stock.

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.