Natural Investments LLC Invests $2.45 Million in The PNC Financial Services Group, Inc. (NYSE:PNC)

Natural Investments LLC bought a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 12,700 shares of the financial services provider’s stock, valued at approximately $2,449,000.

A number of other institutional investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake 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 buying an additional 710,311 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of The PNC Financial Services Group by 88.1% in the third 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 acquiring an additional 274,186 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of 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 worth $82,768,000 after acquiring an additional 252,473 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $37,587,000. Finally, KBC Group NV raised its stake in 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 valued at $52,375,000 after purchasing an additional 185,210 shares during the period. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Trading Down 2.9 %

Shares of NYSE PNC opened at $174.58 on Tuesday. 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 company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $69.09 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.55 and a beta of 1.13. The business’s 50 day moving average price is $193.84 and its 200-day moving average price is $192.95.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates 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 business’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.16 earnings per share. On average, sell-side analysts expect 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 company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PNC shares. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Wells Fargo & Company boosted their price target on shares of 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. Truist Financial lifted their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Citigroup raised 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. Finally, Barclays increased 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 report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $205.00.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $189.29, for a total value of $235,098.18. Following the completion of the transaction, the chief executive officer now owns 530,039 shares of the company’s stock, valued at $100,331,082.31. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 12,420 shares of company stock valued at $2,421,788 over the last three months. 0.42% of the stock is owned by company insiders.

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.