Davis R M Inc. Acquires 196 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Davis R M Inc. boosted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 12.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,727 shares of the financial services provider’s stock after acquiring an additional 196 shares during the quarter. Davis R M Inc.’s holdings in The PNC Financial Services Group were worth $333,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Loomis Sayles & Co. L P lifted its holdings in shares of The PNC Financial Services Group by 8.7% in the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 50 shares in the last quarter. Baltimore Washington Financial Advisors Inc. raised its position in The PNC Financial Services Group by 3.1% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock valued at $324,000 after buying an additional 51 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in The PNC Financial Services Group by 2.4% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock valued at $434,000 after acquiring an additional 53 shares in the last quarter. Transcend Capital Advisors LLC boosted its holdings in The PNC Financial Services Group by 1.8% during the 4th quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock worth $616,000 after acquiring an additional 55 shares during the last quarter. Finally, Altman Advisors Inc. grew its stake in shares of The PNC Financial Services Group by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock worth $1,942,000 after acquiring an additional 56 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PNC. Barclays raised their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Truist Financial boosted 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 note on Friday, January 17th. Compass Point upped their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group boosted their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Stephens reaffirmed an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Two 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 company has a consensus rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $170.15 on Wednesday. The company has a market cap of $67.34 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. 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 firm’s 50-day simple moving average is $193.39 and its two-hundred day simple moving average is $192.90. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the company posted $3.16 EPS. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. Research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.76%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Insider Activity at The PNC Financial Services Group

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, December 20th. The stock was sold at an average price of $189.29, for a total transaction of $235,098.18. Following the completion of the transaction, the chief executive officer now owns 530,039 shares of the company’s stock, valued at $100,331,082.31. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 13,662 shares of company stock worth $2,643,895. 0.42% of the stock is owned by company 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.