Smartleaf Asset Management LLC Acquires 850 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Smartleaf Asset Management LLC grew its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,608 shares of the financial services provider’s stock after purchasing an additional 850 shares during the period. Smartleaf Asset Management LLC’s holdings in The PNC Financial Services Group were worth $2,043,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Purkiss Capital Advisors LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth about $343,000. Onefund LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at approximately $203,000. Jacobi Capital Management LLC increased its position in The PNC Financial Services Group by 0.6% during the 4th quarter. Jacobi Capital Management LLC now owns 26,551 shares of the financial services provider’s stock worth $5,120,000 after purchasing an additional 165 shares in the last quarter. Metis Global Partners LLC lifted its stake in The PNC Financial Services Group by 0.4% in the 4th quarter. Metis Global Partners LLC now owns 18,585 shares of the financial services provider’s stock valued at $3,584,000 after purchasing an additional 67 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in The PNC Financial Services Group by 4.0% in the fourth quarter. Fisher Asset Management LLC now owns 3,737 shares of the financial services provider’s stock valued at $721,000 after buying an additional 143 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

PNC has been the subject of a number of research reports. Morgan Stanley increased their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Truist Financial increased their target price 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. Stephens restated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. 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 report on Monday, November 25th. Finally, Compass Point boosted 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 report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $205.00.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $203.06, for a total value of $252,200.52. Following the completion of the sale, the chief executive officer now directly owns 531,281 shares of the company’s stock, valued at $107,881,919.86. The trade was a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 12,420 shares of company stock valued at $2,445,461. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Up 1.9 %

Shares of NYSE:PNC opened at $192.05 on Friday. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50-day moving average is $195.42 and its 200-day moving average is $192.49. The company has a market capitalization of $76.00 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 1.55 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly 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 firm had revenue of $5.57 billion for the quarter, compared to analyst estimates 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 company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.16 earnings per share. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

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.