Ritholtz Wealth Management Has $3.23 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Ritholtz Wealth Management boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 47.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,875 shares of the financial services provider’s stock after acquiring an additional 6,687 shares during the period. Ritholtz Wealth Management’s holdings in The PNC Financial Services Group were worth $3,233,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of The PNC Financial Services Group by 1.0% during the 2nd quarter. State Street Corp now owns 17,127,040 shares of the financial services provider’s stock worth $2,157,151,000 after purchasing an additional 170,387 shares during the period. FMR LLC increased its holdings in shares of The PNC Financial Services Group by 6.7% during the 3rd quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock worth $1,758,880,000 after purchasing an additional 893,808 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in shares of The PNC Financial Services Group by 7.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock worth $2,064,357,000 after purchasing an additional 860,489 shares during the period. Geode Capital Management LLC increased its holdings in shares of The PNC Financial Services Group by 2.4% during the 1st quarter. Geode Capital Management LLC now owns 7,219,084 shares of the financial services provider’s stock worth $915,146,000 after purchasing an additional 171,876 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of The PNC Financial Services Group by 10.4% during the 3rd quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock worth $634,024,000 after purchasing an additional 484,475 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of The PNC Financial Services Group from $125.00 to $143.00 and gave the company a “neutral” rating in a research note on Friday, December 8th. Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods boosted their price target on shares of The PNC Financial Services Group from $125.00 to $145.00 and gave the company an “underperform” rating in a research report on Wednesday, January 3rd. Evercore ISI boosted their price target on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Stephens reiterated an “equal weight” rating and set a $138.00 target price on shares of The PNC Financial Services Group in a research report on Tuesday, December 5th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $152.87.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the transaction, the executive vice president now directly owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $161.63 on Friday. The firm has a 50-day moving average of $149.96 and a 200-day moving average of $138.25. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The company has a market cap of $64.30 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 1.84 and a beta of 1.17. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, January 16th. The financial services provider reported $3.16 EPS for the quarter, topping the consensus estimate of $2.12 by $1.04. The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.30 billion. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The PNC Financial Services Group’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.49 EPS. As a group, equities analysts forecast that The PNC Financial Services Group, Inc. will post 12.41 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 5th. Shareholders of record on Tuesday, January 16th were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date was Friday, January 12th. The PNC Financial Services Group’s dividend payout ratio is currently 48.48%.

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.