180 Wealth Advisors LLC Increases Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

180 Wealth Advisors LLC boosted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 13.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,414 shares of the financial services provider’s stock after purchasing an additional 2,825 shares during the quarter. The PNC Financial Services Group comprises 0.7% of 180 Wealth Advisors LLC’s holdings, making the stock its 27th largest holding. 180 Wealth Advisors LLC’s holdings in The PNC Financial Services Group were worth $4,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton raised its stake in The PNC Financial Services Group by 44.9% in the fourth quarter. Rosenberg Matthew Hamilton now owns 384 shares of the financial services provider’s stock valued at $74,000 after buying an additional 119 shares during the last quarter. Global Financial Private Client LLC raised its position in shares of The PNC Financial Services Group by 26.7% in the 4th quarter. Global Financial Private Client LLC now owns 1,394 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 294 shares during the last quarter. Grandview Asset Management LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $1,192,000. Marion Wealth Management grew its holdings in shares of The PNC Financial Services Group by 8.3% during the fourth quarter. Marion Wealth Management now owns 7,575 shares of the financial services provider’s stock valued at $1,461,000 after buying an additional 579 shares during the last quarter. Finally, Miracle Mile Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $500,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 1.9 %

Shares of PNC stock opened at $192.66 on Tuesday. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26. The firm has a market capitalization of $76.44 billion, a P/E ratio of 16.29, a PEG ratio of 2.11 and a beta of 1.16. 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 stock’s fifty day moving average is $201.61 and its two-hundred day moving average is $186.29.

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

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.32%. The PNC Financial Services Group’s payout ratio is 54.10%.

Analyst Ratings Changes

A number of research firms have issued reports on PNC. Truist Financial assumed coverage on shares of The PNC Financial Services Group in a research report on Tuesday, January 7th. They set a “hold” rating and a $215.00 price target for the company. Wells Fargo & Company boosted their target price 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. Citigroup lifted their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Compass Point upped their target price on 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, Piper Sandler lifted their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $203.29.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $190.57, for a total value of $236,687.94. Following the completion of the transaction, the chief executive officer now directly owns 546,007 shares of the company’s stock, valued at $104,052,553.99. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now directly owns 915 shares in the company, valued at $170,299.80. This represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,272 shares of company stock valued at $6,164,890. 0.42% of the stock is currently owned by company insiders.

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.