PNC Financial Services Group Inc. Has $293.49 Million Holdings in The PNC Financial Services Group, Inc $PNC

PNC Financial Services Group Inc. trimmed its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 0.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,460,643 shares of the financial services provider’s stock after selling 7,591 shares during the period. PNC Financial Services Group Inc.’s holdings in The PNC Financial Services Group were worth $293,487,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cookson Peirce & Co. Inc. grew its holdings in shares of The PNC Financial Services Group by 42.8% during the third quarter. Cookson Peirce & Co. Inc. now owns 3,856 shares of the financial services provider’s stock worth $775,000 after purchasing an additional 1,155 shares during the last quarter. Ameritas Advisory Services LLC lifted its position in The PNC Financial Services Group by 24.9% during the 3rd quarter. Ameritas Advisory Services LLC now owns 3,659 shares of the financial services provider’s stock worth $735,000 after buying an additional 729 shares in the last quarter. Columbia Bank grew its holdings in The PNC Financial Services Group by 1.8% during the 3rd quarter. Columbia Bank now owns 13,812 shares of the financial services provider’s stock worth $2,775,000 after acquiring an additional 240 shares during the last quarter. Public Sector Pension Investment Board increased its position in The PNC Financial Services Group by 13.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 261,888 shares of the financial services provider’s stock valued at $52,621,000 after acquiring an additional 30,464 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its position in The PNC Financial Services Group by 0.9% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 17,000 shares of the financial services provider’s stock valued at $3,416,000 after acquiring an additional 149 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PNC shares. Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. Royal Bank Of Canada boosted their target price on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Truist Financial upped their target price on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a research report on Thursday, December 18th. Finally, JPMorgan Chase & Co. lifted their price target on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Fifteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and an average price target of $234.44.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC opened at $229.54 on Friday. The firm’s 50 day simple moving average is $218.84 and its 200 day simple moving average is $201.92. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $243.94. The company has a market capitalization of $90.02 billion, a price-to-earnings ratio of 13.84, a P/E/G ratio of 0.96 and a beta of 0.99. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, beating the consensus estimate of $4.23 by $0.65. The firm had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.77 earnings per share. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 40.99%.

The PNC Financial Services Group Company Profile

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.