The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC raised its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 25.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,635 shares of the financial services provider’s stock after buying an additional 730 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in The PNC Financial Services Group were worth $701,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PNC. Principal Financial Group Inc. grew its holdings in The PNC Financial Services Group by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock valued at $420,621,000 after buying an additional 22,271 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of The PNC Financial Services Group by 0.5% during the third quarter. Oppenheimer Asset Management Inc. now owns 24,277 shares of the financial services provider’s stock worth $4,488,000 after purchasing an additional 131 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of The PNC Financial Services Group by 5.1% during the third quarter. Oppenheimer & Co. Inc. now owns 12,736 shares of the financial services provider’s stock worth $2,354,000 after purchasing an additional 613 shares during the last quarter. Curi RMB Capital LLC boosted its holdings in shares of The PNC Financial Services Group by 26.6% during the third quarter. Curi RMB Capital LLC now owns 7,215 shares of the financial services provider’s stock worth $1,334,000 after purchasing an additional 1,514 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of The PNC Financial Services Group by 3.8% during the third quarter. CIBC Asset Management Inc now owns 110,257 shares of the financial services provider’s stock worth $20,381,000 after purchasing an additional 4,065 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of several analyst reports. Piper Sandler raised their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group raised their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Citigroup raised their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Stephens reaffirmed an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Finally, Morgan Stanley increased their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $205.00.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $189.29, for a total transaction of $235,098.18. Following the sale, the chief executive officer now directly owns 530,039 shares of the company’s stock, valued at approximately $100,331,082.31. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 12,420 shares of company stock valued at $2,391,695. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Trading Up 2.3 %

NYSE:PNC opened at $172.80 on Friday. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26. The firm has a market capitalization of $68.39 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. 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 business’s 50-day moving average is $192.04 and its two-hundred day moving average is $192.63.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the company earned $3.16 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts predict 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

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.