Hazlett Burt & Watson Inc. Grows Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Hazlett Burt & Watson Inc. grew its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,352 shares of the financial services provider’s stock after purchasing an additional 502 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in The PNC Financial Services Group were worth $1,030,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Principal Financial Group Inc. grew its position in The PNC Financial Services Group by 1.0% in 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 acquiring an additional 22,271 shares in the last quarter. CreativeOne Wealth LLC grew its holdings in The PNC Financial Services Group by 81.2% during the 3rd quarter. CreativeOne Wealth LLC now owns 4,708 shares of the financial services provider’s stock valued at $870,000 after purchasing an additional 2,110 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in The PNC Financial Services Group by 88.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock valued at $108,217,000 after purchasing an additional 274,186 shares in the last quarter. Ironwood Investment Counsel LLC purchased a new stake in The PNC Financial Services Group during the 3rd quarter worth $211,000. Finally, Encompass More Asset Management acquired a new position in The PNC Financial Services Group in the 3rd quarter worth $201,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 1.8 %

Shares of The PNC Financial Services Group stock opened at $171.83 on Monday. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The stock has a market capitalization of $68.00 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.55 and a beta of 1.13. 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 business’s 50 day simple moving average is $187.91 and its 200-day simple moving average is $192.21.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results 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 company 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 last year, the business posted $3.16 earnings per share. Equities research analysts forecast 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 company also recently announced 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 3.72%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $192.88, for a total value of $239,556.96. Following the completion of the transaction, the chief executive officer now directly owns 526,313 shares of the company’s stock, valued at $101,515,251.44. This represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 12,420 shares of company stock worth $2,342,313. 0.41% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PNC. Truist Financial lifted their target price on 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. The Goldman Sachs Group dropped their price objective on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Morgan Stanley increased their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Compass Point lifted their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Barclays increased their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $204.25.

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.