RWA Wealth Partners LLC Invests $5.88 Million in The PNC Financial Services Group, Inc. (NYSE:PNC)

RWA Wealth Partners LLC purchased a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 30,493 shares of the financial services provider’s stock, valued at approximately $5,881,000.

Several other institutional investors and hedge funds have also bought and sold shares of PNC. Principal Financial Group Inc. boosted its position in The PNC Financial Services Group by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock valued at $420,621,000 after acquiring an additional 22,271 shares in the last quarter. CreativeOne Wealth LLC boosted its position in shares of The PNC Financial Services Group by 81.2% during the third quarter. CreativeOne Wealth LLC now owns 4,708 shares of the financial services provider’s stock valued at $870,000 after purchasing an additional 2,110 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of The PNC Financial Services Group by 88.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock valued at $108,217,000 after purchasing an additional 274,186 shares in the last quarter. Ironwood Investment Counsel LLC purchased a new position in The PNC Financial Services Group during the third quarter valued at $211,000. Finally, Encompass More Asset Management bought a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at $201,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $172.00, for a total value of $213,624.00. Following the sale, the chief executive officer now owns 566,057 shares of the company’s stock, valued at approximately $97,361,804. This represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 12,420 shares of company stock worth $2,342,313. Corporate insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Stephens reissued an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday, January 17th. Barclays increased their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Piper Sandler lifted their target price on shares of 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. Truist Financial increased 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. Finally, Citigroup lowered their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $204.25.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $171.83 on Monday. The firm has a market cap of $68.00 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 1.55 and a beta of 1.13. The firm has a fifty day moving average price of $187.91 and a 200 day moving average price of $192.21. 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 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 (NYSE:PNC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates 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 business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.16 earnings per share. As a group, sell-side analysts expect 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 disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.72%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 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.