Vista Investment Partners II LLC Invests $2.43 Million in The PNC Financial Services Group, Inc. (NYSE:PNC)

Vista Investment Partners II LLC bought a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, HoldingsChannel reports. The fund bought 12,614 shares of the financial services provider’s stock, valued at approximately $2,433,000. The PNC Financial Services Group comprises 1.4% of Vista Investment Partners II LLC’s portfolio, making the stock its 29th biggest position.

Several other large investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its holdings in shares of The PNC Financial Services Group by 1.0% during the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock valued at $420,621,000 after purchasing an additional 22,271 shares during the period. Portside Wealth Group LLC bought a new position in The PNC Financial Services Group in the 3rd quarter valued at about $236,000. Capital Performance Advisors LLP acquired a new position in The PNC Financial Services Group during the 3rd quarter valued at about $51,000. CWA Asset Management Group LLC bought a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth about $509,000. Finally, Assetmark Inc. lifted its stake in shares of The PNC Financial Services Group by 2.7% in the 3rd quarter. Assetmark Inc. now owns 81,552 shares of the financial services provider’s stock worth $15,075,000 after acquiring an additional 2,150 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $189.29, for a total transaction of $235,098.18. Following the transaction, the chief executive officer now directly owns 530,039 shares in the company, valued at $100,331,082.31. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 12,420 shares of company stock valued at $2,421,788. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Up 0.4 %

The PNC Financial Services Group stock opened at $179.75 on Monday. The firm’s 50 day moving average price is $194.20 and its two-hundred day moving average price is $192.96. 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 twelve month low of $143.52 and a twelve month high of $216.26. The firm has a market cap of $71.14 billion, a PE ratio of 13.07, a P/E/G ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates 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 revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.16 EPS. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.56%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Wall Street Analyst Weigh In

PNC has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Barclays upped their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Piper Sandler lifted their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company increased their price objective 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average 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.