Harvest Fund Management Co. Ltd Grows Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Harvest Fund Management Co. Ltd grew its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 161.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,425 shares of the financial services provider’s stock after buying an additional 1,499 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in The PNC Financial Services Group were worth $468,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PNC. Bank of New York Mellon Corp grew its stake in The PNC Financial Services Group by 22.5% in the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock worth $746,435,000 after buying an additional 710,311 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in The PNC Financial Services Group by 88.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock worth $108,217,000 after buying an additional 274,186 shares in the last quarter. Toronto Dominion Bank grew its stake in The PNC Financial Services Group by 129.3% in the 3rd quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider’s stock worth $82,768,000 after buying an additional 252,473 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in The PNC Financial Services Group in the 4th quarter worth approximately $37,587,000. Finally, KBC Group NV grew its stake in The PNC Financial Services Group by 214.4% in the 4th quarter. KBC Group NV now owns 271,588 shares of the financial services provider’s stock worth $52,375,000 after buying an additional 185,210 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

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, March 14th. The shares were sold at an average price of $171.15, for a total transaction of $212,568.30. Following the completion of the transaction, the chief executive officer now directly owns 567,299 shares of the company’s stock, valued at $97,093,223.85. This trade represents a 0.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 12,420 shares of company stock valued at $2,369,165. Company insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Truist Financial increased their target price 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 increased their target price 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. The Goldman Sachs Group reduced their target price on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a report on Wednesday. Barclays increased their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Citigroup increased their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $203.71.

The PNC Financial Services Group Trading Down 0.0 %

NYSE:PNC opened at $173.35 on Friday. The company has a 50-day moving average price of $190.03 and a 200-day moving average price of $192.22. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock has a market cap of $68.60 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping 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 firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the company posted $3.16 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

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

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.