The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Ballentine Partners LLC

Ballentine Partners LLC boosted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,679 shares of the financial services provider’s stock after purchasing an additional 711 shares during the quarter. Ballentine Partners LLC’s holdings in The PNC Financial Services Group were worth $1,481,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Addenda Capital Inc. grew its position in shares of The PNC Financial Services Group by 21.0% in the fourth quarter. Addenda Capital Inc. now owns 43,127 shares of the financial services provider’s stock valued at $8,317,000 after purchasing an additional 7,491 shares during the last quarter. New Hampshire Trust grew its position in shares of The PNC Financial Services Group by 1.7% in the fourth quarter. New Hampshire Trust now owns 13,065 shares of the financial services provider’s stock valued at $2,520,000 after purchasing an additional 218 shares during the last quarter. Amplius Wealth Advisors LLC grew its position in shares of The PNC Financial Services Group by 10.0% in the fourth quarter. Amplius Wealth Advisors LLC now owns 1,325 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 120 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of The PNC Financial Services Group by 11.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 31,988 shares of the financial services provider’s stock valued at $6,169,000 after purchasing an additional 3,411 shares during the last quarter. Finally, UMB Bank n.a. grew its position in shares of The PNC Financial Services Group by 0.5% in the fourth quarter. UMB Bank n.a. now owns 14,804 shares of the financial services provider’s stock valued at $2,855,000 after purchasing an additional 76 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on PNC. Stephens reiterated an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Barclays upped 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 note on Monday, January 6th. Compass Point upped their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Piper Sandler upped their price objective 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. Finally, Wells Fargo & Company upped 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 research note on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $205.00.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $189.29, for a total value of $235,098.18. Following the transaction, the chief executive officer now owns 530,039 shares of the company’s stock, 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 SEC, which is available at this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,171 shares of company stock valued at $5,768,325. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $198.59 on Wednesday. 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 company has a market cap of $78.80 billion, a P/E ratio of 14.44, a P/E/G ratio of 1.85 and a beta of 1.16. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26. The firm’s 50 day moving average is $201.17 and its two-hundred day moving average is $187.72.

The PNC Financial Services Group (NYSE:PNC) last issued 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 PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter last year, the firm posted $3.16 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts expect that The PNC Financial Services Group, Inc. will post 15.03 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 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.