The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Modera Wealth Management LLC

Modera Wealth Management LLC raised its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 156,470 shares of the financial services provider’s stock after buying an additional 3,354 shares during the period. Modera Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $30,175,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of PNC. Winch Advisory Services LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at $25,000. Richardson Financial Services Inc. raised 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 period. Albion Financial Group UT acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at $30,000. Synergy Asset Management LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at $32,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $33,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 1.9 %

NYSE:PNC opened at $192.05 on Friday. The firm’s fifty day moving average is $195.42 and its 200-day moving average is $192.49. 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 PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26. The firm has a market cap of $76.00 billion, a P/E ratio of 13.97, a P/E/G ratio of 1.55 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the company posted $3.16 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. Equities analysts expect 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is 46.55%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $203.06, for a total value of $252,200.52. Following the completion of the transaction, the chief executive officer now owns 531,281 shares in the company, valued at $107,881,919.86. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 12,420 shares of company stock valued at $2,445,461. Company insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PNC. The Goldman Sachs Group upped their price objective 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. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Truist Financial increased their price target 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. Barclays increased their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.