Inscription Capital LLC Invests $271,000 in The PNC Financial Services Group, Inc (NYSE:PNC)

Inscription Capital LLC acquired a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,674 shares of the financial services provider’s stock, valued at approximately $271,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of The PNC Financial Services Group by 32.2% during the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after buying an additional 984 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in The PNC Financial Services Group by 69.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 50,440 shares of the financial services provider’s stock worth $9,670,000 after acquiring an additional 20,621 shares in the last quarter. Principal Securities Inc. boosted its holdings in The PNC Financial Services Group by 26.8% during the 4th quarter. Principal Securities Inc. now owns 5,458 shares of the financial services provider’s stock valued at $1,053,000 after acquiring an additional 1,152 shares during the period. Empower Advisory Group LLC boosted its holdings in The PNC Financial Services Group by 17.1% during the 4th quarter. Empower Advisory Group LLC now owns 1,466 shares of the financial services provider’s stock valued at $283,000 after acquiring an additional 214 shares during the period. Finally, Atria Wealth Solutions Inc. grew its position in The PNC Financial Services Group by 6.9% in the 4th quarter. Atria Wealth Solutions Inc. now owns 29,938 shares of the financial services provider’s stock valued at $5,774,000 after acquiring an additional 1,933 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $175.09 on Thursday. The company has a market capitalization of $69.26 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 1.45 and a beta of 1.06. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.08. The stock has a 50 day moving average price of $168.12 and a 200 day moving average price of $181.62.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. The business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. Research analysts predict 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 business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were given a $1.60 dividend. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.66%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 45.20%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PNC. TD Cowen initiated coverage on shares of The PNC Financial Services Group in a research report on Thursday, May 15th. They set a “buy” rating and a $233.00 price target on the stock. Barclays reduced their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. Wells Fargo & Company reduced their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Finally, HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and lowered their target price for the stock from $206.00 to $202.00 in a research note on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and a consensus target price of $202.67.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group 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 transaction, the chief executive officer now directly owns 566,057 shares of the company’s stock, valued at $97,361,804. The trade was a 0.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the sale, the executive vice president now owns 20,490 shares of the company’s stock, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,912 shares of company stock worth $2,313,022 over the last 90 days. Corporate insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Company 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.