Fortem Financial Group LLC Buys 114 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Fortem Financial Group LLC raised its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 7,329 shares of the financial services provider’s stock after purchasing an additional 114 shares during the period. Fortem Financial Group LLC’s holdings in The PNC Financial Services Group were worth $1,413,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TD Asset Management Inc lifted its holdings in The PNC Financial Services Group by 4.4% during the second quarter. TD Asset Management Inc now owns 183,037 shares of the financial services provider’s stock valued at $28,459,000 after purchasing an additional 7,781 shares in the last quarter. New York Life Investment Management LLC boosted its holdings in The PNC Financial Services Group by 1.0% in the 2nd quarter. New York Life Investment Management LLC now owns 60,653 shares of the financial services provider’s stock worth $9,430,000 after buying an additional 573 shares during the period. Private Advisor Group LLC increased its stake in The PNC Financial Services Group by 8.0% in the 2nd quarter. Private Advisor Group LLC now owns 66,281 shares of the financial services provider’s stock worth $10,305,000 after buying an additional 4,912 shares in the last quarter. Savant Capital LLC raised its holdings in The PNC Financial Services Group by 0.7% during the second quarter. Savant Capital LLC now owns 12,032 shares of the financial services provider’s stock valued at $1,871,000 after acquiring an additional 79 shares during the period. Finally, Lake Street Advisors Group LLC lifted its position in shares of The PNC Financial Services Group by 1.8% in the second quarter. Lake Street Advisors Group LLC now owns 11,325 shares of the financial services provider’s stock valued at $1,761,000 after acquiring an additional 199 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In other news, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $193.62, for a total value of $240,476.04. Following the completion of the transaction, the chief executive officer now directly owns 528,797 shares in the company, valued at approximately $102,385,675.14. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,030 shares of company stock worth $5,916,453 over the last quarter. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 0.4 %

NYSE PNC traded down $0.71 on Monday, hitting $194.92. 1,714,546 shares of the stock were exchanged, compared to its average volume of 1,578,001. The company has a debt-to-equity ratio of 1.22, 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 $139.69 and a 52-week high of $216.26. The firm has a market capitalization of $77.34 billion, a P/E ratio of 16.48, a P/E/G ratio of 2.11 and a beta of 1.16. The stock has a fifty day moving average price of $200.97 and a two-hundred day moving average price of $184.57.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.60 EPS. Research analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.28%. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PNC shares. Stephens lifted their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on shares of 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. Compass Point upped their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Evercore ISI lifted their price target 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. Finally, Piper Sandler increased their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $202.56.

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.