Simon Quick Advisors LLC Has $274,000 Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Simon Quick Advisors LLC raised its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,421 shares of the financial services provider’s stock after acquiring an additional 134 shares during the period. Simon Quick Advisors LLC’s holdings in The PNC Financial Services Group were worth $274,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Atomi Financial Group Inc. grew its holdings in The PNC Financial Services Group by 10.4% in the 4th quarter. Atomi Financial Group Inc. now owns 5,352 shares of the financial services provider’s stock valued at $1,032,000 after buying an additional 505 shares in the last quarter. Chesapeake Wealth Management boosted its position in shares of The PNC Financial Services Group by 4.8% in the fourth quarter. Chesapeake Wealth Management now owns 1,411 shares of the financial services provider’s stock valued at $272,000 after acquiring an additional 65 shares during the period. Ballentine Partners LLC grew its stake in shares of The PNC Financial Services Group by 10.2% in the fourth quarter. Ballentine Partners LLC now owns 7,679 shares of the financial services provider’s stock valued at $1,481,000 after acquiring an additional 711 shares in the last quarter. Addenda Capital Inc. increased its position in The PNC Financial Services Group by 21.0% during the fourth quarter. Addenda Capital Inc. now owns 43,127 shares of the financial services provider’s stock worth $8,317,000 after acquiring an additional 7,491 shares during the period. Finally, New Hampshire Trust increased its position in The PNC Financial Services Group by 1.7% during the fourth quarter. New Hampshire Trust now owns 13,065 shares of the financial services provider’s stock worth $2,520,000 after acquiring an additional 218 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PNC. Citigroup increased their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Stephens reissued 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, January 17th. Wells Fargo & Company lifted their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Truist Financial increased their price objective on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Finally, The Goldman Sachs Group boosted their target price on shares of 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group Stock Up 0.6 %

Shares of PNC opened at $197.43 on Friday. The stock has a market capitalization of $78.33 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 1.61 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 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 stock has a fifty day moving average of $200.66 and a 200-day moving average of $188.08.

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 the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the company earned $3.16 earnings per share. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

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 company’s stock in a transaction dated 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 in the company, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $189.50, for a total value of $235,359.00. Following the transaction, the chief executive officer now owns 543,523 shares of the company’s stock, valued at $102,997,608.50. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,171 shares of company stock worth $5,777,926. 0.42% of the stock is currently owned by company insiders.

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.