Pallas Capital Advisors LLC Has $4.77 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Pallas Capital Advisors LLC increased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,733 shares of the financial services provider’s stock after acquiring an additional 65 shares during the quarter. Pallas Capital Advisors LLC’s holdings in The PNC Financial Services Group were worth $4,770,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PNC. Valley Wealth Managers Inc. lifted its holdings in shares of The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares in the last quarter. Quarry LP lifted its stake 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. Capital Performance Advisors LLP acquired a new stake in The PNC Financial Services Group during the 3rd quarter worth about $51,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in The PNC Financial Services Group by 231.6% during the 3rd 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. Finally, Exchange Traded Concepts LLC acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at about $70,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

PNC traded up $3.64 during midday trading on Monday, reaching $192.66. The company’s stock had a trading volume of 1,854,405 shares, compared to its average volume of 2,032,036. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The company has a fifty day simple moving average of $201.47 and a 200 day simple moving average of $186.01. The stock has a market cap of $76.44 billion, a P/E ratio of 16.29, a PEG ratio of 2.11 and a beta of 1.16. The PNC Financial Services Group, Inc. has a twelve month low of $139.69 and a twelve month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the company posted $3.60 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts expect that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Truist Financial assumed coverage on shares of The PNC Financial Services Group in a research note on Tuesday, January 7th. They issued a “hold” rating and a $215.00 price target on the stock. Compass Point lifted their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Evercore ISI upped their target price on 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. Finally, Barclays lifted their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $203.29.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the transaction, the director now directly owns 915 shares in the company, valued at $170,299.80. The trade was a 48.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $190.57, for a total transaction of $236,687.94. Following the completion of the transaction, the chief executive officer now owns 546,007 shares of the company’s stock, valued at $104,052,553.99. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,272 shares of company stock worth $6,164,890 over the last three months. Company insiders own 0.42% of the company’s stock.

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.