Albion Financial Group UT Purchases New Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Albion Financial Group UT purchased a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, Holdings Channel.com reports. The fund purchased 157 shares of the financial services provider’s stock, valued at approximately $30,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Genesis Private Wealth LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $253,000. Simon Quick Advisors LLC grew its position in shares of The PNC Financial Services Group by 10.4% in the 4th quarter. Simon Quick Advisors LLC now owns 1,421 shares of the financial services provider’s stock valued at $274,000 after acquiring an additional 134 shares during the period. Atomi Financial Group Inc. increased its stake in shares of The PNC Financial Services Group by 10.4% during the 4th quarter. Atomi Financial Group Inc. now owns 5,352 shares of the financial services provider’s stock worth $1,032,000 after purchasing an additional 505 shares during the last quarter. Chesapeake Wealth Management raised its holdings in shares of The PNC Financial Services Group by 4.8% in the 4th quarter. Chesapeake Wealth Management now owns 1,411 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 65 shares during the period. Finally, Ballentine Partners LLC lifted its stake in The PNC Financial Services Group by 10.2% in the 4th quarter. Ballentine Partners LLC now owns 7,679 shares of the financial services provider’s stock valued at $1,481,000 after purchasing an additional 711 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 1.1 %

Shares of PNC opened at $196.41 on Thursday. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26. The business has a 50-day moving average of $200.92 and a 200 day moving average of $188.02. The firm has a market cap of $77.93 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 1.61 and a beta of 1.16. 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 posted its quarterly earnings results 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 company had revenue of $5.57 billion for 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 company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.16 earnings per share. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $189.50, for a total transaction of $235,359.00. Following the sale, the chief executive officer now owns 543,523 shares of the company’s stock, valued at approximately $102,997,608.50. This represents a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the transaction, the director now directly owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,413 shares of company stock worth $6,014,241. 0.42% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PNC. Barclays upped their price objective 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. Truist Financial raised their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a report on Friday, January 17th. Compass Point upped their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Finally, The Goldman Sachs Group increased their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and an average price target of $205.00.

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.