The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by National Pension Service

National Pension Service raised its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,032,780 shares of the financial services provider’s stock after buying an additional 76,143 shares during the period. National Pension Service owned about 0.26% of The PNC Financial Services Group worth $199,172,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PNC. Bank of New York Mellon Corp boosted its position in shares of The PNC Financial Services Group by 22.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock valued at $746,435,000 after acquiring an additional 710,311 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of The PNC Financial Services Group by 88.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock valued at $108,217,000 after buying an additional 274,186 shares during the period. Toronto Dominion Bank increased its holdings in The PNC Financial Services Group by 129.3% in the third quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider’s stock valued at $82,768,000 after buying an additional 252,473 shares during the last quarter. KBC Group NV lifted its position in shares of The PNC Financial Services Group by 214.4% during the 4th quarter. KBC Group NV now owns 271,588 shares of the financial services provider’s stock worth $52,375,000 after buying an additional 185,210 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of The PNC Financial Services Group by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock valued at $1,541,155,000 after purchasing an additional 166,138 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PNC. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Compass Point raised their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group upped their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Citigroup lifted their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Piper Sandler increased their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Trading Down 0.2 %

Shares of PNC stock opened at $186.55 on Wednesday. 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, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26. The firm’s 50 day moving average price is $195.56 and its two-hundred day moving average price is $192.21. The stock has a market cap of $74.02 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data 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 PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter last year, the company earned $3.16 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated 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 of the company’s stock, valued at $115,298,577.65. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 13,662 shares of company stock valued at $2,713,745 in the last quarter. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Company 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.