Asio Capital LLC Raises Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Asio Capital LLC boosted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 697.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 11,720 shares of the financial services provider’s stock after acquiring an additional 10,250 shares during the quarter. Asio Capital LLC’s holdings in The PNC Financial Services Group were worth $2,260,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $25,000. Albion Financial Group UT purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $30,000. Valley Wealth Managers Inc. increased its holdings in shares of The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 200 shares in the last quarter. Quarry LP boosted 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 purchasing an additional 170 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in The PNC Financial Services Group during the 3rd quarter valued at about $51,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $199.49 on Friday. The business has a 50-day simple moving average of $200.29 and a two-hundred day simple moving average of $188.42. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26. The stock has a market cap of $79.15 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 1.59 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations 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 firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.16 EPS. On average, analysts expect that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current year.

The PNC Financial Services Group Announces Dividend

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 issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.21%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of 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. Stephens reaffirmed an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Compass Point lifted their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods upped their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. Finally, Truist Financial lifted their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $205.00.

Insiders Place Their Bets

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $198.00, for a total transaction of $245,916.00. Following the transaction, the chief executive officer now owns 525,071 shares of the company’s stock, valued at approximately $103,964,058. This represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,171 shares of company stock worth $5,777,926. Corporate 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.