Endeavor Private Wealth Inc. Takes $126,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Endeavor Private Wealth Inc. acquired a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, HoldingsChannel reports. The fund acquired 651 shares of the financial services provider’s stock, valued at approximately $126,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PNC. XTX Topco Ltd bought a new position in shares of The PNC Financial Services Group during the second quarter valued at approximately $512,000. Intech Investment Management LLC boosted its position in The PNC Financial Services Group by 65.9% during the 2nd quarter. Intech Investment Management LLC now owns 3,003 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 1,193 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of The PNC Financial Services Group by 4.6% in the 2nd quarter. Pacer Advisors Inc. now owns 28,517 shares of the financial services provider’s stock worth $4,434,000 after acquiring an additional 1,252 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of The PNC Financial Services Group by 8.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 32,910 shares of the financial services provider’s stock worth $5,118,000 after purchasing an additional 2,508 shares during the last quarter. Finally, Frank Rimerman Advisors LLC boosted its position in The PNC Financial Services Group by 7,689.2% during the second quarter. Frank Rimerman Advisors LLC now owns 2,882 shares of the financial services provider’s stock valued at $448,000 after purchasing an additional 2,845 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $189.50, for a total value of $235,359.00. Following the completion of the transaction, the chief executive officer now owns 543,523 shares in the company, valued at $102,997,608.50. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,413 shares of company stock worth $6,014,241 over the last ninety days. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 1.1 %

Shares of PNC stock opened at $196.41 on Thursday. 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 company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s fifty day moving average is $200.66 and its two-hundred day moving average is $188.08. The firm has a market capitalization of $77.93 billion, a P/E ratio of 14.28, a PEG ratio of 1.61 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion for 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 company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $3.16 earnings per share. Research analysts expect that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Wall Street Analyst Weigh In

Several analysts have commented on PNC shares. Truist Financial increased their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Stephens reaffirmed an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research 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 stock an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group lifted 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 report on Friday, December 6th. Finally, Compass Point increased their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Two investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $205.00.

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.