480 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Purchased by Asset Planning Inc

Asset Planning Inc purchased a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 480 shares of the financial services provider’s stock, valued at approximately $93,000.

Other institutional investors have also modified their holdings of the company. Winch Advisory Services LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. raised its stake in The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares in the last quarter. Albion Financial Group UT acquired a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. Finally, Valley Wealth Managers Inc. raised its stake in The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC opened at $195.23 on Friday. The stock has a fifty day moving average of $197.68 and a 200-day moving average of $190.90. The firm has a market capitalization of $77.46 billion, a P/E ratio of 14.20, a PEG ratio of 1.64 and a beta of 1.16. 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 quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its 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 company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.16 earnings per share. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.28%. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $202.11, for a total value of $251,020.62. Following the completion of the sale, the chief executive officer now owns 522,587 shares in the company, valued at $105,620,058.57. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 13,662 shares of company stock worth $2,730,549 over the last quarter. Corporate insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PNC shares. Citigroup upped their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Piper Sandler upped their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Wells Fargo & Company upped their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Morgan Stanley upped their target price 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. Finally, The Goldman Sachs Group upped their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $205.00.

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.