PGGM Investments Acquires 18,145 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

PGGM Investments increased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 88.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,573 shares of the financial services provider’s stock after buying an additional 18,145 shares during the period. PGGM Investments’ holdings in The PNC Financial Services Group were worth $7,439,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Winch Advisory Services LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth $25,000. Richardson Financial Services Inc. lifted its holdings in The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Albion Financial Group UT bought a new position in The PNC Financial Services Group in the 4th quarter worth about $30,000. Rialto Wealth Management LLC purchased a new position in The PNC Financial Services Group during the 4th quarter valued at about $32,000. Finally, Synergy Asset Management LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at about $32,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s 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 of the company’s stock, valued at $105,620,058.57. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 12,420 shares of company stock valued at $2,391,695. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC stock opened at $168.63 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $66.74 billion, a P/E ratio of 12.26, a P/E/G ratio of 1.55 and a beta of 1.13. The firm’s fifty day moving average is $192.50 and its 200 day moving average is $192.58. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 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 net margin of 17.10% and a return on equity of 11.12%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $3.16 EPS. 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.80%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of analyst reports. Compass Point raised their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Stephens reissued an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Citigroup lifted 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. Finally, Truist Financial upped their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Two 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $205.00.

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.