Royal London Asset Management Ltd. Buys 1,851 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Royal London Asset Management Ltd. grew its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 356,103 shares of the financial services provider’s stock after purchasing an additional 1,851 shares during the period. Royal London Asset Management Ltd.’s holdings in The PNC Financial Services Group were worth $68,674,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Loomis Sayles & Co. L P boosted its stake in The PNC Financial Services Group by 8.7% during the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock worth $115,000 after buying an additional 50 shares during the period. Baltimore Washington Financial Advisors Inc. boosted its stake in shares of The PNC Financial Services Group by 3.1% during the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 51 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in The PNC Financial Services Group by 2.4% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock valued at $434,000 after purchasing an additional 53 shares during the last quarter. Transcend Capital Advisors LLC raised its position in The PNC Financial Services Group by 1.8% in the 4th quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock worth $616,000 after purchasing an additional 55 shares during the period. Finally, Altman Advisors Inc. lifted its stake in The PNC Financial Services Group by 0.5% in the third quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock worth $1,942,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

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 announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.51. The company 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 net margin of 17.10% and a return on equity of 11.12%. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $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 declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis 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 (DPR) is presently 46.55%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $193.62, for a total value of $240,476.04. Following the completion of the transaction, the chief executive officer now directly owns 528,797 shares of the company’s stock, valued at $102,385,675.14. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed 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.

Wall Street Analysts Forecast Growth

PNC has been the subject of a number of recent analyst reports. Citigroup boosted their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. The Goldman Sachs Group cut their price target on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a report on Wednesday. Barclays lifted 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 report on Monday, January 6th. Truist Financial upped their target price 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, Piper Sandler lifted their price target on shares of 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $203.71.

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.