Migdal Insurance & Financial Holdings Ltd. Acquires 858 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 272.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,173 shares of the financial services provider’s stock after buying an additional 858 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in The PNC Financial Services Group were worth $226,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC increased its holdings in The PNC Financial Services Group by 14.7% during the 3rd quarter. CWM LLC now owns 13,108 shares of the financial services provider’s stock worth $2,423,000 after purchasing an additional 1,681 shares during the period. Wedmont Private Capital increased its holdings in The PNC Financial Services Group by 12.4% during the 3rd quarter. Wedmont Private Capital now owns 4,399 shares of the financial services provider’s stock worth $802,000 after purchasing an additional 486 shares during the period. USA Financial Formulas increased its holdings in The PNC Financial Services Group by 7.6% during the 3rd quarter. USA Financial Formulas now owns 1,287 shares of the financial services provider’s stock worth $238,000 after purchasing an additional 91 shares during the period. UMB Bank n.a. increased its holdings in The PNC Financial Services Group by 0.9% during the 3rd quarter. UMB Bank n.a. now owns 14,728 shares of the financial services provider’s stock worth $2,722,000 after purchasing an additional 132 shares during the period. Finally, Quotient Wealth Partners LLC increased its holdings in The PNC Financial Services Group by 2.1% during the 3rd quarter. Quotient Wealth Partners LLC now owns 3,488 shares of the financial services provider’s stock worth $645,000 after purchasing an additional 73 shares during the period. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Stock Down 0.8 %

Shares of PNC stock opened at $200.80 on Friday. The PNC Financial Services Group, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26. The stock’s fifty day moving average price is $198.68 and its 200 day moving average price is $190.28. 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 company has a market cap of $79.67 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 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 company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the firm posted $3.16 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, research analysts expect that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.19%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Analyst Ratings Changes

Several research analysts have commented on the company. Evercore ISI raised their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Stephens restated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Truist Financial lifted their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a report on Friday, January 17th. Piper Sandler lifted their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Citigroup lifted their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $205.00.

Insiders Place Their Bets

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 shares were sold at an average price of $216.01, for a total value of $268,284.42. Following the completion of the transaction, the chief executive officer now directly owns 533,765 shares of the company’s stock, valued at approximately $115,298,577.65. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,413 shares of company stock valued at $6,037,230. 0.42% of the stock is owned by company 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.