Shepherd Financial Partners LLC Acquires 89 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Shepherd Financial Partners LLC increased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,321 shares of the financial services provider’s stock after purchasing an additional 89 shares during the quarter. Shepherd Financial Partners LLC’s holdings in The PNC Financial Services Group were worth $448,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PNC. State Street Corp grew its position in The PNC Financial Services Group by 0.6% during the 3rd quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock worth $3,197,791,000 after acquiring an additional 100,573 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of The PNC Financial Services Group by 1.2% during the third quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock valued at $1,939,154,000 after acquiring an additional 123,994 shares during the last quarter. Geode Capital Management LLC lifted its holdings in The PNC Financial Services Group by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock worth $1,541,155,000 after buying an additional 166,138 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in The PNC Financial Services Group by 1.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,950,394 shares of the financial services provider’s stock valued at $545,380,000 after acquiring an additional 42,887 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of The PNC Financial Services Group by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,440,098 shares of the financial services provider’s stock valued at $451,052,000 after buying an additional 6,438 shares during the period. 83.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Keefe, Bruyette & Woods lifted their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. Compass Point upped their price target 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. Morgan Stanley boosted their price target on 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. Piper Sandler boosted their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, 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. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Stock Down 0.8 %

Shares of NYSE PNC opened at $200.80 on Friday. The company has a market capitalization of $79.67 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. The firm’s 50-day moving average is $198.68 and its two-hundred day moving average is $190.28. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the business earned $3.16 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $208.12, for a total value of $258,485.04. Following the completion of the transaction, the chief executive officer now owns 536,249 shares of the company’s stock, valued at approximately $111,604,141.88. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now directly owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,413 shares of company stock valued at $6,037,230. Insiders own 0.42% of the company’s stock.

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.