Parallel Advisors LLC Increases Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Parallel Advisors LLC increased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,732 shares of the financial services provider’s stock after purchasing an additional 209 shares during the period. Parallel Advisors LLC’s holdings in The PNC Financial Services Group were worth $720,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in PNC. Winch Advisory Services LLC bought a new stake in The PNC Financial Services Group during the 4th quarter valued at $25,000. Richardson Financial Services Inc. raised its holdings in The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares during the last quarter. Albion Financial Group UT bought a new stake in The PNC Financial Services Group during the 4th quarter valued at $30,000. Rialto Wealth Management LLC bought a new stake in The PNC Financial Services Group during the 4th quarter valued at $32,000. Finally, Synergy Asset Management LLC bought a new stake in The PNC Financial Services Group during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 0.2 %

NYSE:PNC opened at $173.42 on Friday. The PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26. The firm’s 50-day moving average price is $190.35 and its 200-day moving average price is $192.30. The company has a market capitalization of $68.63 billion, a PE ratio of 12.61, a P/E/G ratio of 1.55 and a beta of 1.13. 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 (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the firm posted $3.16 EPS. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Compass Point upped their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Truist Financial upped their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a report on Friday, January 17th. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Stephens restated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Finally, Citigroup upped their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $203.71.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $192.15, for a total transaction of $238,650.30. Following the sale, the chief executive officer now directly owns 527,555 shares of the company’s stock, valued at approximately $101,369,693.25. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 12,420 shares of company stock valued at $2,369,165. 0.42% of the stock is owned by insiders.

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.