45,892 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Purchased by Longbow Finance SA

Longbow Finance SA bought a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 45,892 shares of the financial services provider’s stock, valued at approximately $8,850,000.

Several other institutional investors have also recently made changes to their positions in PNC. Bank of New York Mellon Corp grew its position in shares of The PNC Financial Services Group by 22.5% during the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock worth $746,435,000 after purchasing an additional 710,311 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of The PNC Financial Services Group by 88.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock worth $108,217,000 after purchasing an additional 274,186 shares in the last quarter. Toronto Dominion Bank grew its position in shares of The PNC Financial Services Group by 129.3% during the third quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider’s stock worth $82,768,000 after purchasing an additional 252,473 shares in the last quarter. KBC Group NV grew its position in shares of The PNC Financial Services Group by 214.4% during the fourth quarter. KBC Group NV now owns 271,588 shares of the financial services provider’s stock worth $52,375,000 after purchasing an additional 185,210 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of The PNC Financial Services Group by 2.0% during the third quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock worth $1,541,155,000 after purchasing an additional 166,138 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, November 29th. The stock was sold at an average price of $216.01, for a total value of $268,284.42. Following the transaction, the chief executive officer now directly owns 533,765 shares in the company, valued at approximately $115,298,577.65. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 13,662 shares of company stock worth $2,713,745. 0.42% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PNC has been the subject of several research analyst reports. Piper Sandler raised their price target 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 raised their price target 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. The Goldman Sachs Group raised their price target 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. Truist Financial raised their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a report on Friday, January 17th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group Trading Down 0.7 %

Shares of NYSE PNC opened at $186.68 on Tuesday. 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 business has a fifty day simple moving average of $195.80 and a two-hundred day simple moving average of $192.09. The firm has a market cap of $74.07 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The business 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 PNC Financial Services Group’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.16 EPS. Analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared 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 3.43%. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

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.