Janney Montgomery Scott LLC Purchases 8,860 Shares of The PNC Financial Services Group, Inc $PNC

Janney Montgomery Scott LLC increased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 589,368 shares of the financial services provider’s stock after purchasing an additional 8,860 shares during the period. Janney Montgomery Scott LLC owned about 0.15% of The PNC Financial Services Group worth $123,019,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PNC. Norges Bank bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $1,967,080,000. Viking Global Investors LP increased its position in shares of The PNC Financial Services Group by 234.9% during the third quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock valued at $1,598,753,000 after purchasing an additional 5,581,102 shares during the period. Deutsche Bank AG increased its position in shares of The PNC Financial Services Group by 108.2% during the fourth quarter. Deutsche Bank AG now owns 3,836,936 shares of the financial services provider’s stock valued at $800,884,000 after purchasing an additional 1,994,431 shares during the period. Wellington Management Group LLP increased its position in shares of The PNC Financial Services Group by 50.1% during the third quarter. Wellington Management Group LLP now owns 3,485,320 shares of the financial services provider’s stock valued at $700,305,000 after purchasing an additional 1,162,964 shares during the period. Finally, Capital International Investors increased its position in shares of The PNC Financial Services Group by 10.2% during the fourth quarter. Capital International Investors now owns 11,936,742 shares of the financial services provider’s stock valued at $2,491,819,000 after purchasing an additional 1,101,055 shares during the period. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Up 0.3%

Shares of NYSE:PNC opened at $232.81 on Thursday. The company’s fifty day moving average is $219.76 and its 200-day moving average is $215.62. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The company has a market capitalization of $93.49 billion, a PE ratio of 13.53, a P/E/G ratio of 0.96 and a beta of 0.92. The PNC Financial Services Group, Inc has a 52 week low of $172.73 and a 52 week high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping the consensus estimate of $3.92 by $0.40. The company had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.51 earnings per share. Equities research analysts predict that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio is presently 39.51%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the sale, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. This represents a 36.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew T. Feldstein sold 45,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares in the company, valued at $2,370,906.93. This trade represents a 80.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PNC shares. Oppenheimer boosted their price objective on The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Jefferies Financial Group started coverage on The PNC Financial Services Group in a research report on Thursday, March 26th. They set a “buy” rating and a $250.00 price objective on the stock. Bank of America boosted their price objective on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Truist Financial boosted their price objective on The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a research report on Thursday, April 16th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $243.11.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.