Atomi Financial Group Inc. Acquires 505 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Atomi Financial Group Inc. grew its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,352 shares of the financial services provider’s stock after buying an additional 505 shares during the period. Atomi Financial Group Inc.’s holdings in The PNC Financial Services Group were worth $1,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Winch Advisory Services LLC bought a new stake in The PNC Financial Services Group in the 4th quarter valued at $25,000. Valley Wealth Managers Inc. grew its position in shares of The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of The PNC Financial Services Group in the third quarter worth about $51,000. Quarry LP lifted its position in shares of The PNC Financial Services Group by 141.7% in the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after buying an additional 170 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in The PNC Financial Services Group by 231.6% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock valued at $58,000 after buying an additional 220 shares during 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 business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, the director now directly 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 position. 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 firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $189.29, for a total value of $235,098.18. Following the sale, the chief executive officer now directly owns 530,039 shares in the company, valued at approximately $100,331,082.31. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,413 shares of company stock worth $6,014,241 in the last three months. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Barclays upped their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Evercore ISI increased their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Citigroup upped their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Wells Fargo & Company increased their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Truist Financial boosted their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $196.41 on Thursday. The stock has a market cap of $77.93 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 1.62 and a beta of 1.16. The firm has a 50-day moving average of $200.92 and a two-hundred day moving average of $188.02. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.16 earnings per share. On average, research analysts forecast that The PNC Financial Services Group, Inc. will post 15.2 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

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 paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

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.