VIRGINIA RETIREMENT SYSTEMS ET Al Buys 2,700 Shares of The PNC Financial Services Group, Inc $PNC

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 73.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,400 shares of the financial services provider’s stock after buying an additional 2,700 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in The PNC Financial Services Group were worth $1,336,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. YANKCOM Partnership raised its stake in The PNC Financial Services Group by 1.8% during the 4th quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock valued at $539,000 after purchasing an additional 46 shares during the period. Westfuller Advisors LLC raised its stake in The PNC Financial Services Group by 26.9% during the 4th quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 46 shares during the period. Almanack Investment Partners LLC. raised its stake in The PNC Financial Services Group by 2.2% during the 4th quarter. Almanack Investment Partners LLC. now owns 2,349 shares of the financial services provider’s stock valued at $490,000 after purchasing an additional 50 shares during the period. North Star Investment Management Corp. raised its stake in The PNC Financial Services Group by 1.1% during the 4th quarter. North Star Investment Management Corp. now owns 4,784 shares of the financial services provider’s stock valued at $999,000 after purchasing an additional 50 shares during the period. Finally, PUREfi Wealth LLC raised its stake in The PNC Financial Services Group by 2.4% during the 4th quarter. PUREfi Wealth LLC now owns 2,305 shares of the financial services provider’s stock valued at $481,000 after purchasing an additional 53 shares during the period. Institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Louis Robert Cestello sold 4,279 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the completion of the transaction, the executive vice president owned 18,867 shares in the company, valued at $4,415,066.67. The trade was a 18.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 50,000 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $230.88, for a total value of $11,544,000.00. Following the transaction, the chief executive officer owned 554,274 shares of the company’s stock, valued at approximately $127,970,781.12. The trade was a 8.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 64,186 shares of company stock worth $14,840,973 in the last 90 days. 0.38% of the stock is owned by insiders.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $213.17 on Friday. The stock has a market cap of $85.60 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 0.88 and a beta of 0.94. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a 50 day moving average price of $213.47 and a 200-day moving average price of $210.57. The PNC Financial Services Group, Inc has a one year low of $169.32 and a one year high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The firm had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The company’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.51 EPS. Equities analysts expect that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were issued a dividend of $1.70 per share. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.2%. The PNC Financial Services Group’s payout ratio is presently 39.51%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PNC. Truist Financial lifted their target price on The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a research note on Thursday, April 16th. Royal Bank Of Canada reissued an “outperform” rating and set a $235.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Barclays lifted their price objective on The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Finally, Wells Fargo & Company lifted their price objective on The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $243.11.

The PNC Financial Services Group 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.