The PNC Financial Services Group, Inc. (NYSE:PNC) Stake Increased by Mariner LLC

Mariner LLC boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 31.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,000,678 shares of the financial services provider’s stock after buying an additional 240,260 shares during the period. Mariner LLC owned approximately 0.25% of The PNC Financial Services Group worth $192,977,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of PNC. Mechanics Financial Corp acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $541,000. AssuredPartners Investment Advisors LLC purchased a new position in The PNC Financial Services Group during the fourth quarter valued at approximately $739,000. Premier Fund Managers Ltd increased its stake in The PNC Financial Services Group by 38.3% in the 4th quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider’s stock valued at $9,511,000 after buying an additional 13,700 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in The PNC Financial Services Group by 25.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock worth $7,739,000 after buying an additional 8,081 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its stake in shares of The PNC Financial Services Group by 48.5% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock valued at $5,160,000 after buying an additional 8,735 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 601 shares of the firm’s stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $160.00, for a total transaction of $96,160.00. Following the completion of the transaction, the chief executive officer now directly owns 563,573 shares of the company’s stock, valued at approximately $90,171,680. This trade represents a 0.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 12,420 shares of company stock worth $2,276,870. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $151.57 on Monday. The company has a market cap of $59.98 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 1.55 and a beta of 1.04. The business has a 50 day moving average price of $178.30 and a 200 day moving average price of $190.22. 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, 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 posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the business earned $3.16 earnings per share. The PNC Financial Services Group’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 year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be issued a dividend of $1.60 per share. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.22%. The PNC Financial Services Group’s payout ratio is 46.55%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Truist Financial dropped their price target on shares of The PNC Financial Services Group from $216.00 to $208.00 and set a “hold” rating on the stock in a research note on Friday, April 4th. The Goldman Sachs Group dropped their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and lowered their price target for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Barclays raised their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Wells Fargo & Company decreased their target price on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and an average price target of $203.47.

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.