Wellington Shields & Co. LLC Acquires 100 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Wellington Shields & Co. LLC raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,083 shares of the financial services provider’s stock after acquiring an additional 100 shares during the quarter. Wellington Shields & Co. LLC’s holdings in The PNC Financial Services Group were worth $980,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of PNC. Winch Advisory Services LLC bought a new position in The PNC Financial Services Group in the 4th quarter valued at $25,000. Richardson Financial Services Inc. lifted its holdings in shares of The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares during the period. Albion Financial Group UT purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth $30,000. Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth $32,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth $32,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 2.3 %

The PNC Financial Services Group stock opened at $172.80 on Friday. The stock has a 50-day moving average of $192.04 and a two-hundred day moving average of $192.54. 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 PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26. The stock has a market cap of $68.39 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $3.16 earnings per share. On average, research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PNC shares. Piper Sandler upped their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Compass Point upped their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley upped their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. The Goldman Sachs Group upped their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Citigroup upped their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $205.00.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $193.62, for a total value of $240,476.04. Following the transaction, the chief executive officer now directly owns 528,797 shares of the company’s stock, valued at approximately $102,385,675.14. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 12,420 shares of company stock valued at $2,391,695. Company insiders own 0.42% of the company’s stock.

About The PNC Financial Services Group

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.