MGO One Seven LLC Has $5.53 Million Stock Position in The PNC Financial Services Group, Inc $PNC

MGO One Seven LLC raised its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 21.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,540 shares of the financial services provider’s stock after purchasing an additional 4,803 shares during the quarter. MGO One Seven LLC’s holdings in The PNC Financial Services Group were worth $5,534,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC raised its position in The PNC Financial Services Group by 32.2% during the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after acquiring an additional 984 shares in the last quarter. Empowered Funds LLC increased its stake in shares of The PNC Financial Services Group by 2.1% during the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock worth $1,452,000 after purchasing an additional 170 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of The PNC Financial Services Group by 4.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,498 shares of the financial services provider’s stock worth $439,000 after purchasing an additional 116 shares during the last quarter. NBC Securities Inc. raised its holdings in shares of The PNC Financial Services Group by 15.5% during the 2nd quarter. NBC Securities Inc. now owns 5,847 shares of the financial services provider’s stock valued at $1,090,000 after purchasing an additional 784 shares in the last quarter. Finally, RMR Wealth Builders lifted its stake in shares of The PNC Financial Services Group by 1.8% in the 2nd quarter. RMR Wealth Builders now owns 6,190 shares of the financial services provider’s stock valued at $1,154,000 after purchasing an additional 110 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $215.79 on Tuesday. The stock has a 50-day simple moving average of $200.11 and a 200 day simple moving average of $196.59. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $220.54. The stock has a market capitalization of $84.63 billion, a PE ratio of 13.94, a P/E/G ratio of 0.93 and a beta of 0.99. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, topping the consensus estimate of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The company had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same period in the previous year, the business posted $3.49 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Tuesday, January 20th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.2%. The ex-dividend date is Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio is presently 43.93%.

Insiders Place Their Bets

In other news, EVP Michael Duane Thomas sold 1,000 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the completion of the transaction, the executive vice president owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This represents a 14.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Guild Deborah sold 1,080 shares of The PNC Financial Services Group stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $186.97, for a total value of $201,927.60. Following the sale, the executive vice president directly owned 27,335 shares in the company, valued at approximately $5,110,824.95. This trade represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.41% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Truist Financial increased their target price on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a research report on Thursday, December 18th. Oppenheimer decreased their price target on The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. Cfra Research raised The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. TD Cowen raised their price objective on The PNC Financial Services Group from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Finally, Evercore ISI upped their target price on The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $222.06.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.