Founders Financial Securities LLC Raises Stock Position in The PNC Financial Services Group, Inc $PNC

Founders Financial Securities LLC boosted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 25.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,898 shares of the financial services provider’s stock after purchasing an additional 3,663 shares during the period. Founders Financial Securities LLC’s holdings in The PNC Financial Services Group were worth $3,736,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PNC. Brighton Jones LLC raised its stake in shares of The PNC Financial Services Group by 32.2% in the 4th 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 during the period. Empowered Funds LLC raised its stake in shares of The PNC Financial Services Group by 2.1% in the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock valued at $1,452,000 after acquiring an additional 170 shares during the period. Sivia Capital Partners LLC raised its stake in shares of The PNC Financial Services Group by 50.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock valued at $807,000 after acquiring an additional 1,449 shares during the period. Treasurer of the State of North Carolina raised its stake in shares of The PNC Financial Services Group by 1.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 184,579 shares of the financial services provider’s stock valued at $34,409,000 after acquiring an additional 2,808 shares during the period. Finally, Diversify Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at approximately $482,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Up 0.7%

Shares of PNC stock opened at $221.36 on Friday. 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 market capitalization of $88.89 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 0.92 and a beta of 0.94. The company has a 50 day moving average price of $216.27 and a 200 day moving average price of $213.05. The PNC Financial Services Group, Inc has a fifty-two week low of $170.49 and a fifty-two week high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, beating 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 net margin of 20.89% and a return on equity of 12.10%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.51 earnings per share. Equities research analysts predict that The PNC Financial Services Group, Inc will post 18.93 EPS for the current fiscal 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 $1.70 dividend. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.1%. The PNC Financial Services Group’s payout ratio is 39.51%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the transaction, the director owned 10,749 shares in the company, valued at $2,370,906.93. The trade was a 80.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PNC. Truist Financial boosted their price target on shares of 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 issued a $235.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Bank of America boosted their price target on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Finally, Jefferies Financial Group began coverage on shares of The PNC Financial Services Group in a research note on Thursday, March 26th. They issued a “buy” rating and a $250.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group has an average rating of “Moderate Buy” and a consensus target price 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.