Equitable Trust Co. Purchases 83 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Equitable Trust Co. raised its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,062 shares of the financial services provider’s stock after purchasing an additional 83 shares during the quarter. Equitable Trust Co.’s holdings in The PNC Financial Services Group were worth $398,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Winch Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $25,000. Richardson Financial Services Inc. boosted its stake 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 valued at $28,000 after purchasing an additional 140 shares during the last quarter. Albion Financial Group UT bought a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $30,000. Synergy Asset Management LLC bought a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $32,000. Finally, Valley Wealth Managers Inc. raised its stake in shares of The PNC Financial Services Group by 20,000.0% in 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. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $205.98, for a total transaction of $255,827.16. Following the sale, the chief executive officer now owns 535,007 shares of the company’s stock, valued at approximately $110,200,741.86. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 14,904 shares of company stock valued at $2,989,034. Company insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on PNC. Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Stephens reaffirmed 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. Evercore ISI increased their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group boosted their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Truist Financial upped their price objective on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $199.37 on Wednesday. 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 debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s fifty day moving average price is $198.12 and its two-hundred day moving average price is $190.74. The firm has a market cap of $79.10 billion, a PE ratio of 14.50, a PEG ratio of 1.64 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.16 EPS. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

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.