Vestmark Advisory Solutions Inc. Raises Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Vestmark Advisory Solutions Inc. boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 25.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 12,126 shares of the financial services provider’s stock after acquiring an additional 2,454 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in The PNC Financial Services Group were worth $2,339,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in The PNC Financial Services Group by 25.3% in the fourth 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 buying an additional 8,081 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 48.5% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock valued at $5,160,000 after acquiring an additional 8,735 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of The PNC Financial Services Group by 2.0% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock worth $30,202,000 after acquiring an additional 3,100 shares during the period. Concurrent Investment Advisors LLC raised its holdings in shares of The PNC Financial Services Group by 45.6% during the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after purchasing an additional 2,009 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new position in The PNC Financial Services Group during the fourth quarter valued at $346,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 0.4 %

PNC stock opened at $179.75 on Friday. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. The business’s 50-day moving average is $194.20 and its 200 day moving average is $192.68. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock has a market cap of $71.14 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 1.55 and a beta of 1.13.

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, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the company posted $3.16 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. On average, 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. Stockholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Analyst Upgrades and Downgrades

PNC has been the topic of several analyst reports. 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 research report on Friday, January 17th. Stephens reaffirmed an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday, January 17th. Citigroup boosted their price target on 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. Compass Point raised their price objective 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. Finally, Piper Sandler boosted their target price 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 investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $205.00.

Insider Transactions 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 dated Friday, February 28th. The shares were sold at an average price of $190.18, for a total value of $236,203.56. Following the completion of the sale, the chief executive officer now owns 569,783 shares in the company, valued at approximately $108,361,330.94. This represents a 0.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 12,420 shares of company stock valued at $2,421,788. Corporate insiders own 0.42% of the company’s stock.

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.