Smith Salley Wealth Management Grows Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Smith Salley Wealth Management increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 63,008 shares of the financial services provider’s stock after acquiring an additional 553 shares during the period. Smith Salley Wealth Management’s holdings in The PNC Financial Services Group were worth $12,151,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Winch Advisory Services LLC purchased a new position in The PNC Financial Services Group during the fourth quarter worth approximately $25,000. Valley Wealth Managers Inc. lifted its position in shares of 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 buying an additional 200 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in The PNC Financial Services Group in the 3rd quarter valued at $51,000. Quarry LP increased its holdings in The PNC Financial Services Group by 141.7% in the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 170 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in The PNC Financial Services Group by 231.6% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 220 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of research reports. Piper Sandler boosted their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. 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 research report on Friday, December 6th. Stephens reiterated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday. Finally, Truist Financial raised their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $198.36 on Friday. The company has a market capitalization of $78.71 billion, a P/E ratio of 16.77, a P/E/G ratio of 1.77 and a beta of 1.16. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. 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 moving average is $201.40 and its two-hundred day moving average is $187.03.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data 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 PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. 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 firm earned $3.16 EPS. The PNC Financial Services Group’s revenue was up 3.8% on a year-over-year basis. Equities analysts expect that The PNC Financial Services Group, Inc. will post 13.47 EPS for the current 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 given a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.23%. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $192.88, for a total value of $239,556.96. Following the transaction, the chief executive officer now owns 526,313 shares in the company, valued at approximately $101,515,251.44. This represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the transaction, the director now owns 915 shares of the company’s stock, valued at approximately $170,299.80. The trade was a 48.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,030 shares of company stock worth $5,928,202 over the last 90 days. 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.