Atlantic Family Wealth LLC Invests $245,000 in The PNC Financial Services Group, Inc. (NYSE:PNC)

Atlantic Family Wealth LLC purchased a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,270 shares of the financial services provider’s stock, valued at approximately $245,000.

A number of other institutional investors also recently made changes to their positions in the stock. State Street Corp raised its holdings in shares of The PNC Financial Services Group by 0.6% in the third quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock worth $3,197,791,000 after acquiring an additional 100,573 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of The PNC Financial Services Group by 1.2% in the third quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock worth $1,939,154,000 after acquiring an additional 123,994 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of The PNC Financial Services Group by 2.0% in the third quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock worth $1,541,155,000 after acquiring an additional 166,138 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in The PNC Financial Services Group by 1.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,950,394 shares of the financial services provider’s stock valued at $545,380,000 after purchasing an additional 42,887 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in The PNC Financial Services Group by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,440,098 shares of the financial services provider’s stock valued at $451,052,000 after purchasing an additional 6,438 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Wells Fargo & Company upped their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Piper Sandler upped their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group upped 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. Stephens restated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Finally, Citigroup upped their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $205.00.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $189.29, for a total value of $235,098.18. Following the completion of the transaction, the chief executive officer now owns 530,039 shares in the company, valued at approximately $100,331,082.31. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 12,420 shares of company stock worth $2,474,722. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Price Performance

PNC stock opened at $187.90 on Friday. 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, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. The firm has a market cap of $74.55 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. The stock has a 50-day simple moving average of $196.08 and a 200-day simple moving average of $191.80.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the firm earned $3.16 EPS. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.41%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

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.