Millstone Evans Group LLC Makes New Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

Millstone Evans Group LLC purchased a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,153 shares of the financial services provider’s stock, valued at approximately $608,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P lifted its stake in The PNC Financial Services Group by 8.7% during the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 50 shares during the last quarter. Baltimore Washington Financial Advisors Inc. lifted its stake in The PNC Financial Services Group by 3.1% during the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 51 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in The PNC Financial Services Group by 2.4% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock worth $434,000 after purchasing an additional 53 shares during the last quarter. Transcend Capital Advisors LLC lifted its stake in shares of The PNC Financial Services Group by 1.8% in the 4th quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock valued at $616,000 after acquiring an additional 55 shares during the last quarter. Finally, Valmark Advisers Inc. lifted its stake in shares of The PNC Financial Services Group by 1.4% in the 4th quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock valued at $773,000 after acquiring an additional 56 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $171.15, for a total transaction of $212,568.30. Following the completion of the transaction, the chief executive officer now owns 567,299 shares of the company’s stock, valued at $97,093,223.85. This trade represents a 0.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 12,420 shares of company stock valued at $2,369,165. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Down 0.0 %

Shares of NYSE:PNC opened at $173.35 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 firm has a market capitalization of $68.60 billion, a P/E ratio of 12.61, a P/E/G ratio of 1.55 and a beta of 1.13. The stock has a 50 day moving average price of $190.03 and a 200-day moving average price of $192.22. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81.

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, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the company earned $3.16 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. As a group, equities research 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 company 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 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PNC shares. Barclays boosted their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Morgan Stanley boosted their target price 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. Stephens reissued an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. The Goldman Sachs Group lowered their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Truist Financial boosted 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 note on Friday, January 17th. Two research 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $203.71.

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.