SRS Capital Advisors Inc. Grows Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

SRS Capital Advisors Inc. boosted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 9.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,205 shares of the financial services provider’s stock after buying an additional 185 shares during the period. SRS Capital Advisors Inc.’s holdings in The PNC Financial Services Group were worth $425,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PNC. Winch Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth approximately $25,000. Richardson Financial Services Inc. raised its stake in The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $30,000. Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $32,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PNC. Piper Sandler lifted their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Truist Financial lifted their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Compass Point increased their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group lifted their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Stephens reissued an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. 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 company. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Stock Down 1.4 %

Shares of NYSE PNC opened at $189.26 on Tuesday. The firm has a market cap of $74.90 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.55 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s 50-day simple moving average is $195.34 and its 200-day simple moving average is $192.78.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $5.51 billion. During the same period in the prior year, the company posted $3.16 EPS. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business 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 3.38%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $190.18, for a total value of $236,203.56. Following the completion of the transaction, the chief executive officer now directly owns 569,783 shares in the company, valued at approximately $108,361,330.94. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 13,662 shares of company stock valued at $2,681,664. Insiders own 0.42% of the company’s stock.

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.