Premier Path Wealth Partners LLC Increases Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Premier Path Wealth Partners LLC raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 25.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,702 shares of the financial services provider’s stock after buying an additional 967 shares during the period. Premier Path Wealth Partners LLC’s holdings in The PNC Financial Services Group were worth $907,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PNC. Mercer Global Advisors Inc. ADV boosted its position in The PNC Financial Services Group by 9.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 29,510 shares of the financial services provider’s stock worth $4,588,000 after purchasing an additional 2,670 shares in the last quarter. Blair William & Co. IL raised its stake in shares of The PNC Financial Services Group by 216.5% during the 2nd quarter. Blair William & Co. IL now owns 45,739 shares of the financial services provider’s stock worth $7,112,000 after buying an additional 31,289 shares during the period. XTX Topco Ltd purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at approximately $512,000. Intech Investment Management LLC grew its stake in The PNC Financial Services Group by 65.9% in the 2nd quarter. Intech Investment Management LLC now owns 3,003 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 1,193 shares during the period. Finally, Ieq Capital LLC raised its position in The PNC Financial Services Group by 22.0% during the second quarter. Ieq Capital LLC now owns 14,976 shares of the financial services provider’s stock worth $2,328,000 after acquiring an additional 2,697 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 0.9 %

Shares of NYSE PNC opened at $198.36 on Friday. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26. 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 50 day simple moving average of $201.40 and a 200-day simple moving average of $187.03. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.16 earnings per share. On average, equities research analysts predict that The PNC Financial Services Group, Inc. will post 13.47 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PNC shares. Stephens reiterated an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday. Citigroup lifted their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Evercore ISI increased their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group lifted their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Piper Sandler raised their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. 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. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $205.00.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $190.27, for a total value of $236,315.34. Following the transaction, the chief executive officer now owns 544,765 shares in the company, valued at $103,652,436.55. This trade represents a 0.23 % decrease in their ownership of the stock. 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 three months. Insiders own 0.42% of the company’s stock.

About The PNC Financial Services Group

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.