Schneider Downs Wealth Management Advisors LP Purchases 6,767 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Schneider Downs Wealth Management Advisors LP raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 156.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 11,092 shares of the financial services provider’s stock after buying an additional 6,767 shares during the period. Schneider Downs Wealth Management Advisors LP’s holdings in The PNC Financial Services Group were worth $2,139,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Traynor Capital Management Inc. acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at $227,000. Fortitude Family Office LLC lifted its stake in shares of The PNC Financial Services Group by 119.2% in the 3rd quarter. Fortitude Family Office LLC now owns 399 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 217 shares during the period. Integrated Advisors Network LLC lifted its stake in shares of The PNC Financial Services Group by 900.1% in the 3rd quarter. Integrated Advisors Network LLC now owns 19,021 shares of the financial services provider’s stock valued at $3,516,000 after purchasing an additional 17,119 shares during the period. Diversify Advisory Services LLC lifted its stake in shares of The PNC Financial Services Group by 5.2% in the 3rd quarter. Diversify Advisory Services LLC now owns 2,053 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 102 shares during the period. Finally, Farmers & Merchants Investments Inc. lifted its stake in shares of The PNC Financial Services Group by 51.4% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 421 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 143 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $192.45, for a total transaction of $239,022.90. Following the completion of the transaction, the chief executive officer now owns 571,025 shares in the company, valued at approximately $109,893,761.25. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 13,662 shares of company stock worth $2,713,745. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $186.90 on Thursday. The stock has a market capitalization of $74.16 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 1.55 and a beta of 1.16. The business has a 50-day moving average of $195.46 and a 200-day moving average of $192.17. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. 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 PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the company earned $3.16 EPS. The PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of analyst reports. Barclays increased their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Piper Sandler raised their price objective 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. Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley raised their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Finally, The Goldman Sachs Group raised 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. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.