Pines Wealth Management LLC Acquires New Shares in The PNC Financial Services Group, Inc. (NYSE:PNC)

Pines Wealth Management LLC bought a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 6,655 shares of the financial services provider’s stock, valued at approximately $1,258,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Valley Wealth Managers Inc. raised its holdings in shares of 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 worth $37,000 after acquiring an additional 200 shares during the period. Quarry LP raised its stake in shares of The PNC Financial Services Group by 141.7% in the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 170 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at about $51,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of The PNC Financial Services Group by 231.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 220 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in shares of The PNC Financial Services Group during the third quarter worth about $70,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PNC shares. Compass Point boosted their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Piper Sandler boosted their price objective on shares of 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. The Goldman Sachs Group raised their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Finally, Stephens lifted their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $203.29.

The PNC Financial Services Group Trading Up 1.8 %

Shares of PNC stock opened at $195.81 on Wednesday. The stock has a market cap of $77.69 billion, a P/E ratio of 16.55, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock has a 50 day simple moving average of $201.75 and a 200 day simple moving average of $186.58.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the prior year, the company posted $3.60 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be given a dividend of $1.60 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.27%. The PNC Financial Services Group’s dividend payout ratio is 54.10%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now directly owns 915 shares of the company’s stock, valued at $170,299.80. This trade represents a 48.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $115,298,577.65. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,272 shares of company stock valued at $6,164,890 in the last ninety days. 0.42% of the stock is currently owned by company insiders.

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.