Crowley Wealth Management Inc. Invests $281,000 in The PNC Financial Services Group, Inc. (NYSE:PNC)

Crowley Wealth Management Inc. acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, HoldingsChannel reports. The firm acquired 1,455 shares of the financial services provider’s stock, valued at approximately $281,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in The PNC Financial Services Group by 22.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock worth $746,435,000 after buying an additional 710,311 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of The PNC Financial Services Group by 88.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock worth $108,217,000 after acquiring an additional 274,186 shares during the period. Vanguard Group Inc. boosted its holdings in The PNC Financial Services Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider’s stock valued at $7,273,794,000 after acquiring an additional 268,827 shares during the last quarter. Toronto Dominion Bank increased its position in The PNC Financial Services Group by 129.3% during the 3rd quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider’s stock valued at $82,768,000 after purchasing an additional 252,473 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in The PNC Financial Services Group during the 4th quarter worth approximately $37,587,000. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Trading Down 0.0 %

NYSE PNC opened at $173.35 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $68.60 billion, a P/E ratio of 12.61, a PEG ratio of 1.55 and a beta of 1.13. The business has a fifty day simple moving average of $190.03 and a 200 day simple moving average of $192.27. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the firm earned $3.16 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. On average, analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued 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 3.69%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Morgan Stanley boosted their target price 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. Stephens reaffirmed an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. The Goldman Sachs Group dropped their price target on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research note on Wednesday. Piper Sandler raised their price objective 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, Citigroup increased their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $203.71.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $192.15, for a total transaction of $238,650.30. Following the sale, the chief executive officer now directly owns 527,555 shares in the company, valued at $101,369,693.25. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 12,420 shares of company stock worth $2,369,165 in the last quarter. 0.42% of the stock is currently 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.