1,209 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Acquired by EntryPoint Capital LLC

EntryPoint Capital LLC acquired a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,209 shares of the financial services provider’s stock, valued at approximately $233,000.

Other hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of The PNC Financial Services Group by 25.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock valued at $7,739,000 after acquiring an additional 8,081 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of The PNC Financial Services Group by 48.5% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock worth $5,160,000 after purchasing an additional 8,735 shares during the period. Mn Services Vermogensbeheer B.V. lifted its holdings in shares of The PNC Financial Services Group by 2.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock valued at $30,202,000 after purchasing an additional 3,100 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $346,000. Finally, Truist Financial Corp raised its holdings in The PNC Financial Services Group by 1.4% during the 4th quarter. Truist Financial Corp now owns 1,132,634 shares of the financial services provider’s stock worth $218,429,000 after buying an additional 15,246 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $192.88, for a total value of $239,556.96. Following the completion of the transaction, the chief executive officer now directly owns 526,313 shares in the company, valued at approximately $101,515,251.44. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 12,420 shares of company stock worth $2,342,313 in the last three months. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Down 1.8 %

PNC stock opened at $171.83 on Friday. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26. The business has a 50-day simple moving average of $187.91 and a 200 day simple moving average of $192.01. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The company has a market cap of $68.00 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.16 EPS. Sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PNC. Piper Sandler upped their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Barclays boosted their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Truist Financial increased their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a report on Friday, January 17th. Citigroup cut their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Finally, Stephens reaffirmed an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $204.25.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.