The PNC Financial Services Group, Inc. (NYSE:PNC) Holdings Lifted by Laurel Wealth Advisors LLC

Laurel Wealth Advisors LLC grew its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 44.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 338 shares of the financial services provider’s stock after buying an additional 104 shares during the period. Laurel Wealth Advisors LLC’s holdings in The PNC Financial Services Group were worth $65,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Parallel Advisors LLC boosted its position in The PNC Financial Services Group by 8.4% during the 2nd quarter. Parallel Advisors LLC now owns 3,594 shares of the financial services provider’s stock worth $559,000 after acquiring an additional 277 shares during the period. One Capital Management LLC bought a new stake in shares of The PNC Financial Services Group during the second quarter valued at about $463,000. Denali Advisors LLC acquired a new stake in The PNC Financial Services Group in the second quarter worth about $715,000. Bradley Foster & Sargent Inc. CT grew its position in The PNC Financial Services Group by 4.6% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 8,839 shares of the financial services provider’s stock valued at $1,374,000 after buying an additional 388 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in The PNC Financial Services Group by 9.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 29,510 shares of the financial services provider’s stock valued at $4,588,000 after buying an additional 2,670 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $216.01, for a total transaction of $268,284.42. Following the transaction, the chief executive officer now directly owns 533,765 shares of the company’s stock, valued at approximately $115,298,577.65. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,272 shares of company stock valued at $6,164,890 in the last 90 days. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Up 2.2 %

Shares of NYSE:PNC opened at $200.07 on Thursday. The firm has a 50 day simple moving average of $201.75 and a 200 day simple moving average of $186.58. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $79.38 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.60 earnings per share. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.20%. The PNC Financial Services Group’s payout ratio is presently 54.10%.

Analyst Ratings Changes

PNC has been the subject of a number of research analyst reports. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Stephens increased their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. 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 note on Friday, December 6th. Evercore ISI raised their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Truist Financial started coverage on shares of The PNC Financial Services Group in a research report on Tuesday, January 7th. They issued a “hold” rating and a $215.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $203.29.

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.