WESPAC Advisors LLC Purchases New Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

WESPAC Advisors LLC purchased a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,259 shares of the financial services provider’s stock, valued at approximately $821,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. raised its position in The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. Finally, Financial Life Planners purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $37,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Down 2.1 %

Shares of NYSE:PNC opened at $187.90 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 stock has a market cap of $74.55 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. The business’s 50 day moving average is $196.08 and its 200 day moving average is $191.80. 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 PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.16 EPS. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 3.41%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Analysts Set New Price Targets

PNC has been the topic of a number of recent research reports. Truist Financial upped their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Wells Fargo & Company increased their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Morgan Stanley increased their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Barclays increased their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Citigroup increased their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $205.00.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the 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 sale, the chief executive officer now owns 533,765 shares of the company’s stock, valued at approximately $115,298,577.65. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 12,420 shares of company stock valued at $2,474,722. 0.42% of the stock is currently owned by corporate insiders.

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.