Taylor Securities Services Inc. Acquires New Stake in The PNC Financial Services Group, Inc $PNC

Taylor Securities Services Inc. bought a new position in The PNC Financial Services Group, Inc (NYSE:PNC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,497 shares of the financial services provider’s stock, valued at approximately $521,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PNC. Monetary Solutions Ltd bought a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $25,000. Quarry LP acquired a new stake in The PNC Financial Services Group in the 3rd quarter valued at approximately $25,000. Modus Advisors LLC bought a new stake in The PNC Financial Services Group in the 4th quarter valued at approximately $29,000. Kemnay Advisory Services Inc. bought a new stake in The PNC Financial Services Group in the 4th quarter valued at approximately $32,000. Finally, EFG International AG acquired a new position in The PNC Financial Services Group during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PNC shares. Barclays lifted their price objective on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Truist Financial raised their target price on shares of 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. Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. Finally, Jefferies Financial Group initiated coverage on shares of The PNC Financial Services Group in a research note on Thursday, March 26th. They set a “buy” rating and a $250.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $246.72.

Insider Activity

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the transaction, the director owned 10,749 shares in the company, valued at $2,370,906.93. This represents a 80.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the sale, the executive vice president owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 48,300 shares of company stock valued at $10,694,574. 0.38% of the stock is owned by company insiders.

The PNC Financial Services Group Trading Up 0.1%

Shares of The PNC Financial Services Group stock opened at $232.39 on Friday. The business has a fifty day simple moving average of $222.68 and a two-hundred day simple moving average of $217.55. The PNC Financial Services Group, Inc has a 1 year low of $176.16 and a 1 year high of $243.94. The company has a market capitalization of $93.32 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 0.95 and a beta of 0.92. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates 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 firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.51 earnings per share. Research analysts forecast that The PNC Financial Services Group, Inc will post 18.81 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company 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. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.9%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 39.51%.

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.