Insider Buying: The PNC Financial Services Group, Inc. (NYSE:PNC) Director Acquires 100 Shares of Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) Director Douglas A. Dachille bought 100 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were purchased at an average price of $198.13 per share, for a total transaction of $19,813.00. Following the completion of the acquisition, the director now owns 100 shares of the company’s stock, valued at $19,813. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

The PNC Financial Services Group Stock Down 0.8 %

NYSE PNC opened at $200.80 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The company has a market cap of $79.67 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 1.63 and a beta of 1.16. The company has a 50 day moving average of $198.68 and a 200-day moving average of $190.28. The PNC Financial Services Group, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26.

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, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the business earned $3.16 earnings per share. The PNC Financial Services Group’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.19%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PNC. Bank of New York Mellon Corp increased its stake in shares of The PNC Financial Services Group by 22.5% in the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock valued at $746,435,000 after purchasing an additional 710,311 shares during the last quarter. International Assets Investment Management LLC boosted its stake in The PNC Financial Services Group by 12,940.0% in the third quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock valued at $99,262,000 after buying an additional 532,871 shares in the last quarter. Assenagon Asset Management S.A. grew its position in The PNC Financial Services Group by 160.9% in the third quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock valued at $129,836,000 after acquiring an additional 433,178 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in The PNC Financial Services Group by 88.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock worth $108,217,000 after acquiring an additional 274,186 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of The PNC Financial Services Group by 129.3% in the third quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider’s stock worth $82,768,000 after acquiring an additional 252,473 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PNC shares. Piper Sandler boosted their price objective on shares of 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. Wells Fargo & Company upped their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Barclays lifted their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Keefe, Bruyette & Woods increased their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Finally, Evercore ISI lifted their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and a consensus target price of $205.00.

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.