Avantax Advisory Services Inc. Purchases 1,328 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Avantax Advisory Services Inc. lifted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 54,475 shares of the financial services provider’s stock after purchasing an additional 1,328 shares during the quarter. Avantax Advisory Services Inc.’s holdings in The PNC Financial Services Group were worth $10,506,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in shares of The PNC Financial Services Group by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock valued at $420,621,000 after purchasing an additional 22,271 shares during the period. Ashton Thomas Securities LLC bought a new stake in The PNC Financial Services Group in the third quarter worth approximately $177,000. Versor Investments LP lifted its stake in The PNC Financial Services Group by 37.5% in the third quarter. Versor Investments LP now owns 3,300 shares of the financial services provider’s stock valued at $610,000 after buying an additional 900 shares during the period. Nations Financial Group Inc. IA ADV bought a new position in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $230,000. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $268,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 0.6 %

The PNC Financial Services Group stock opened at $171.02 on Thursday. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The firm’s 50-day simple moving average is $192.95 and its 200 day simple moving average is $192.74. The stock has a market cap of $67.68 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued 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 company had revenue of $5.57 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $3.16 earnings per share. Research 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 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

Insider Buying and Selling

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 13th. The shares were sold at an average price of $203.06, for a total value of $252,200.52. Following the sale, the chief executive officer now owns 531,281 shares of the company’s stock, valued at approximately $107,881,919.86. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 13,662 shares of company stock valued at $2,643,895. 0.42% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PNC has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Truist Financial increased their price objective on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Wells Fargo & Company boosted their target price on 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. Piper Sandler upped their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Stephens reissued an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. 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 stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $205.00.

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.