The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Empower Advisory Group LLC

Empower Advisory Group LLC boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 17.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,466 shares of the financial services provider’s stock after purchasing an additional 214 shares during the quarter. Empower Advisory Group LLC’s holdings in The PNC Financial Services Group were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Truist Financial Corp raised its stake in The PNC Financial Services Group by 1.4% in the 4th quarter. Truist Financial Corp now owns 1,132,634 shares of the financial services provider’s stock valued at $218,429,000 after purchasing an additional 15,246 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of The PNC Financial Services Group by 8.6% during the 4th quarter. CIBC Asset Management Inc now owns 119,714 shares of the financial services provider’s stock valued at $23,087,000 after acquiring an additional 9,457 shares during the last quarter. Human Investing LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter valued at about $87,000. Sanctuary Advisors LLC increased its stake in shares of The PNC Financial Services Group by 7.2% during the 4th quarter. Sanctuary Advisors LLC now owns 104,911 shares of the financial services provider’s stock valued at $21,199,000 after acquiring an additional 7,003 shares during the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of The PNC Financial Services Group during the 4th quarter valued at about $1,612,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on PNC shares. Citigroup upped their price objective on shares of 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 price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Barclays upped 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. The Goldman Sachs Group boosted their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Two equities research 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. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Stock Down 1.2 %

NYSE PNC opened at $194.19 on Thursday. The stock has a market cap of $77.05 billion, a PE ratio of 14.12, a P/E/G ratio of 1.56 and a beta of 1.16. 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 business has a 50 day moving average price of $196.55 and a two-hundred day moving average price of $191.49. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion during 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 business’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.16 EPS. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.30%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $216.01, for a total transaction of $268,284.42. Following the completion of the transaction, the chief executive officer now directly owns 533,765 shares in the company, valued at approximately $115,298,577.65. This represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 13,662 shares of company stock worth $2,730,549. 0.42% of the stock is currently owned by 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.