Joel Isaacson & Co. LLC Boosts Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Joel Isaacson & Co. LLC increased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,567 shares of the financial services provider’s stock after buying an additional 1,076 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in The PNC Financial Services Group were worth $9,366,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC raised its position in The PNC Financial Services Group by 14.7% in the third quarter. CWM LLC now owns 13,108 shares of the financial services provider’s stock valued at $2,423,000 after purchasing an additional 1,681 shares during the period. Wedmont Private Capital raised its holdings in The PNC Financial Services Group by 12.4% in the 3rd quarter. Wedmont Private Capital now owns 4,399 shares of the financial services provider’s stock valued at $802,000 after buying an additional 486 shares during the period. USA Financial Formulas lifted its position in The PNC Financial Services Group by 7.6% in the third quarter. USA Financial Formulas now owns 1,287 shares of the financial services provider’s stock valued at $238,000 after buying an additional 91 shares during the last quarter. UMB Bank n.a. boosted its stake in The PNC Financial Services Group by 0.9% during the third quarter. UMB Bank n.a. now owns 14,728 shares of the financial services provider’s stock worth $2,722,000 after buying an additional 132 shares during the period. Finally, Quotient Wealth Partners LLC increased its position in shares of The PNC Financial Services Group by 2.1% during the third quarter. Quotient Wealth Partners LLC now owns 3,488 shares of the financial services provider’s stock valued at $645,000 after acquiring an additional 73 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Morgan Stanley upped their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Piper Sandler raised their target price on 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 lifted their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Citigroup raised their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Compass Point upped their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $205.00.

Insider Activity

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $216.01, for a total transaction of $268,284.42. Following the transaction, the chief executive officer now directly owns 533,765 shares in the company, valued at approximately $115,298,577.65. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,413 shares of company stock valued at $6,037,230. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $200.80 on Friday. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $79.67 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 1.64 and a beta of 1.16. The stock’s 50-day moving average is $198.68 and its two-hundred day moving average is $190.28.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly 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 PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the firm earned $3.16 EPS. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts predict that The PNC Financial Services Group, Inc. will post 15.3 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.19%. The PNC Financial Services Group’s payout ratio is 46.55%.

The PNC Financial Services Group Profile

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.