Purkiss Capital Advisors LLC Purchases Shares of 1,777 The PNC Financial Services Group, Inc. (NYSE:PNC)

Purkiss Capital Advisors LLC acquired a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, HoldingsChannel reports. The fund acquired 1,777 shares of the financial services provider’s stock, valued at approximately $343,000.

Several other hedge funds also recently modified their holdings of the stock. Winch Advisory Services LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter worth $25,000. Richardson Financial Services Inc. boosted its position in shares of The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Albion Financial Group UT acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $30,000. Synergy Asset Management LLC bought a new stake in The PNC Financial Services Group in the 4th quarter valued at about $32,000. Finally, Whipplewood Advisors LLC acquired a new position in The PNC Financial Services Group during the 4th quarter worth approximately $33,000. Institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Truist Financial raised their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. The Goldman Sachs Group boosted their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Morgan Stanley upped their price objective 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. Wells Fargo & Company lifted their price objective on shares of 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. Finally, Barclays upped their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $205.00.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $209.24, for a total transaction of $259,876.08. Following the completion of the sale, the chief executive officer now owns 532,523 shares in the company, valued at $111,425,112.52. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 12,420 shares of company stock worth $2,445,461 over the last three months. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Performance

PNC stock opened at $192.05 on Friday. 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 firm has a market cap of $76.00 billion, a PE ratio of 13.97, a P/E/G ratio of 1.55 and a beta of 1.16. The business has a 50 day moving average of $195.42 and a 200-day moving average of $192.49. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.16 EPS. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is 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.