Grant Private Wealth Management Inc Invests $243,000 in The PNC Financial Services Group, Inc. (NYSE:PNC)

Grant Private Wealth Management Inc acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,258 shares of the financial services provider’s stock, valued at approximately $243,000.

Other institutional investors also recently bought and sold shares of the company. Winch Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth $25,000. Richardson Financial Services Inc. lifted its position 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 worth $28,000 after acquiring an additional 140 shares during the period. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at about $30,000. Synergy Asset Management LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $32,000. Finally, Rialto Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $32,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on PNC shares. Morgan Stanley increased their price target on shares of 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. Truist Financial increased their price objective on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Stephens restated an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Compass Point increased their price target on 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. Finally, Barclays boosted their price objective on 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $204.12.

The PNC Financial Services Group Stock Performance

PNC opened at $177.24 on Thursday. The firm’s fifty day simple moving average is $186.59 and its two-hundred day simple moving average is $192.07. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26. The company has a market cap of $70.14 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.55 and a beta of 1.04. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results 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 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 for the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the company posted $3.16 EPS. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.61%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $192.88, for a total value of $239,556.96. Following the completion of the sale, the chief executive officer now directly owns 526,313 shares in the company, valued at $101,515,251.44. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have sold 13,662 shares of company stock worth $2,559,389. Corporate insiders own 0.41% of the company’s stock.

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.