Independent Solutions Wealth Management LLC Has $1.37 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Independent Solutions Wealth Management LLC boosted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 452.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,092 shares of the financial services provider’s stock after purchasing an additional 5,808 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $1,368,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Winch Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $25,000. Richardson Financial Services Inc. boosted its holdings in The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares in the last quarter. Albion Financial Group UT acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $32,000. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Stock Down 0.2 %

The PNC Financial Services Group stock opened at $173.42 on Friday. 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 company has a market capitalization of $68.63 billion, a P/E ratio of 12.61, a P/E/G ratio of 1.55 and a beta of 1.13. The firm has a 50 day moving average price of $190.35 and a 200-day moving average price of $192.30. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The business 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 business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the business posted $3.16 earnings per share. As a group, equities analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $171.15, for a total transaction of $212,568.30. Following the sale, the chief executive officer now directly owns 567,299 shares in the company, valued at approximately $97,093,223.85. This represents a 0.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 12,420 shares of company stock worth $2,369,165 over the last quarter. 0.42% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of recent research reports. Compass Point boosted their price target 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. Piper Sandler boosted their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. 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. Citigroup increased their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, The Goldman Sachs Group cut their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus price target of $203.71.

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.