4,072 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Bought by Fiduciary Alliance LLC

Fiduciary Alliance LLC purchased a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, Holdings Channel.com reports. The firm purchased 4,072 shares of the financial services provider’s stock, valued at approximately $785,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Valley Wealth Managers Inc. lifted its stake in 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 purchasing an additional 200 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $51,000. Quarry LP boosted its holdings 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 buying an additional 170 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of The PNC Financial Services Group by 231.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock valued at $58,000 after buying an additional 220 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in The PNC Financial Services Group during the 3rd quarter worth $70,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Up 1.9 %

Shares of PNC stock opened at $192.66 on Tuesday. The business’s fifty day moving average price is $201.61 and its 200 day moving average price is $186.29. The firm has a market capitalization of $76.44 billion, a PE ratio of 16.29, a P/E/G ratio of 2.11 and a beta of 1.16. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.60 EPS. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.32%. The PNC Financial Services Group’s payout ratio is 54.10%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PNC. Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Stephens lifted their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Truist Financial initiated coverage on The PNC Financial Services Group in a report on Tuesday, January 7th. They issued a “hold” rating and a $215.00 price objective for the company. The Goldman Sachs Group lifted 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 report on Friday, December 6th. Finally, Keefe, Bruyette & Woods increased their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and an average price target of $203.29.

Insider Transactions at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now directly owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $190.57, for a total transaction of $236,687.94. Following the transaction, the chief executive officer now owns 546,007 shares of the company’s stock, valued at approximately $104,052,553.99. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,272 shares of company stock valued at $6,164,890 in the last quarter. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group 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.