Heck Capital Advisors LLC Makes New Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

Heck Capital Advisors LLC acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 270 shares of the financial services provider’s stock, valued at approximately $52,000.

Other hedge funds have also modified their holdings of the company. Winch Advisory Services LLC purchased a new position in The PNC Financial Services Group during the 4th quarter worth $25,000. Albion Financial Group UT acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $30,000. Synergy Asset Management LLC purchased a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $32,000. Valley Wealth Managers Inc. raised its stake in The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 200 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of The PNC Financial Services Group during the third quarter worth $51,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $208.12, for a total value of $258,485.04. Following the sale, the chief executive officer now directly owns 536,249 shares of the company’s stock, valued at approximately $111,604,141.88. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the transaction, the director now directly owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,171 shares of company stock valued at $5,786,210 over the last quarter. Company insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on PNC. Evercore ISI upped their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Citigroup increased their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Truist Financial lifted their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. The Goldman Sachs Group raised their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Barclays upped their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Stock Down 0.7 %

Shares of NYSE:PNC opened at $200.63 on Monday. 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 company has a market capitalization of $79.60 billion, a P/E ratio of 14.59, a P/E/G ratio of 1.64 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26. The stock’s fifty day simple moving average is $199.85 and its 200-day simple moving average is $189.75.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $3.16 EPS. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 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.