The PNC Financial Services Group, Inc $PNC Shares Purchased by Ruffer LLP

Ruffer LLP boosted its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 13.8% during the 4th quarter, Holdings Channel reports. The fund owned 150,102 shares of the financial services provider’s stock after acquiring an additional 18,193 shares during the quarter. The PNC Financial Services Group comprises 1.4% of Ruffer LLP’s portfolio, making the stock its 22nd largest holding. Ruffer LLP’s holdings in The PNC Financial Services Group were worth $31,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its position in The PNC Financial Services Group by 12.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,835 shares of the financial services provider’s stock valued at $11,621,000 after acquiring an additional 6,572 shares during the period. US Bancorp DE increased its position in The PNC Financial Services Group by 13.4% in the 3rd quarter. US Bancorp DE now owns 287,236 shares of the financial services provider’s stock valued at $57,714,000 after acquiring an additional 34,009 shares during the period. Envestnet Asset Management Inc. increased its position in The PNC Financial Services Group by 1.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,837,301 shares of the financial services provider’s stock valued at $369,169,000 after acquiring an additional 22,325 shares during the period. National Pension Service increased its position in The PNC Financial Services Group by 2.5% in the 3rd quarter. National Pension Service now owns 1,070,589 shares of the financial services provider’s stock valued at $215,113,000 after acquiring an additional 26,305 shares during the period. Finally, Savant Capital LLC increased its position in shares of The PNC Financial Services Group by 8.7% during the 3rd quarter. Savant Capital LLC now owns 87,952 shares of the financial services provider’s stock valued at $17,672,000 after purchasing an additional 7,064 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC opened at $227.97 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $91.96 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 0.95 and a beta of 0.96. The stock’s fifty day simple moving average is $215.20 and its 200 day simple moving average is $207.00. The PNC Financial Services Group, Inc has a 52-week low of $151.10 and a 52-week high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The business had revenue of $6.17 billion for 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 period in the previous year, the firm posted $3.51 EPS. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc will post 18.76 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, April 14th. The PNC Financial Services Group’s payout ratio is presently 39.51%.

Insider Buying and Selling

In related news, EVP Richard Kevin Bynum sold 7,407 shares of The PNC Financial Services Group stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total value of $1,710,868.86. Following the transaction, the executive vice president directly owned 1,942 shares in the company, valued at $448,563.16. The trade was a 79.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Alexander E. C. Overstrom sold 2,500 shares of The PNC Financial Services Group stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $233.91, for a total value of $584,775.00. Following the completion of the transaction, the executive vice president owned 21,120 shares in the company, valued at $4,940,179.20. The trade was a 10.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 64,186 shares of company stock valued at $14,840,973. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

PNC has been the subject of several research analyst reports. Wells Fargo & Company upped their price objective on 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. Jefferies Financial Group assumed coverage on The PNC Financial Services Group in a research note on Thursday, March 26th. They set a “buy” rating and a $250.00 target price for the company. Truist Financial raised 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. Barclays raised their target price on The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Finally, Morgan Stanley raised their target price on The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. One equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $241.69.

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.