Brooklyn FI LLC Acquires Shares of 2,060 The PNC Financial Services Group, Inc. (NYSE:PNC)

Brooklyn FI LLC bought a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,060 shares of the financial services provider’s stock, valued at approximately $410,000.

Several other institutional investors have also recently made changes to their positions in PNC. Enhancing Capital LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth about $238,000. Generali Asset Management SPA SGR bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $6,077,000. Horizon Investments LLC grew its stake in shares of The PNC Financial Services Group by 1.5% during the fourth quarter. Horizon Investments LLC now owns 12,366 shares of the financial services provider’s stock valued at $2,365,000 after buying an additional 177 shares during the last quarter. Mystic Asset Management Inc. raised its holdings in shares of The PNC Financial Services Group by 152.0% in the fourth quarter. Mystic Asset Management Inc. now owns 12,334 shares of the financial services provider’s stock worth $2,379,000 after buying an additional 7,439 shares during the period. Finally, Axxcess Wealth Management LLC lifted its stake in shares of The PNC Financial Services Group by 6.6% during the 4th quarter. Axxcess Wealth Management LLC now owns 20,502 shares of the financial services provider’s stock worth $3,954,000 after acquiring an additional 1,261 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PNC. Truist Financial increased their target price on 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. Piper Sandler raised their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Barclays boosted their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Compass Point raised their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Morgan Stanley boosted their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $203.71.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $193.62, for a total transaction of $240,476.04. Following the transaction, the chief executive officer now owns 528,797 shares in the company, valued at $102,385,675.14. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 13,662 shares of company stock worth $2,604,263. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Stock Performance

PNC stock opened at $173.86 on Thursday. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26. The firm has a market cap of $68.81 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.55 and a beta of 1.13. 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 firm has a 50-day simple moving average of $190.77 and a two-hundred day simple moving average of $192.43.

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 analysts’ consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion during 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 PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.16 earnings per share. On average, equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

The PNC Financial Services Group 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.