Bradley Foster & Sargent Inc. CT Purchases 1,645 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Bradley Foster & Sargent Inc. CT grew its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 16.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,694 shares of the financial services provider’s stock after acquiring an additional 1,645 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in The PNC Financial Services Group were worth $2,255,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. Paradigm Asset Management Co. LLC lifted its holdings in shares of The PNC Financial Services Group by 1,055.6% during the 4th quarter. Paradigm Asset Management Co. LLC now owns 10,400 shares of the financial services provider’s stock worth $2,006,000 after acquiring an additional 9,500 shares during the period. First Bank & Trust increased its holdings in shares of The PNC Financial Services Group by 3.1% in the fourth quarter. First Bank & Trust now owns 18,168 shares of the financial services provider’s stock valued at $3,504,000 after purchasing an additional 540 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in shares of The PNC Financial Services Group by 2.5% during the fourth quarter. Concurrent Investment Advisors LLC now owns 6,571 shares of the financial services provider’s stock worth $1,267,000 after acquiring an additional 158 shares during the last quarter. Handelsbanken Fonder AB lifted its position in The PNC Financial Services Group by 8.7% during the 4th quarter. Handelsbanken Fonder AB now owns 132,604 shares of the financial services provider’s stock valued at $25,573,000 after purchasing an additional 10,607 shares during the period. Finally, Ieq Capital LLC boosted its stake in The PNC Financial Services Group by 67.5% in the fourth quarter. Ieq Capital LLC now owns 32,486 shares of the financial services provider’s stock valued at $6,265,000 after acquiring an additional 13,091 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC opened at $187.90 on Friday. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. The company’s 50 day moving average price is $196.08 and its two-hundred day moving average price is $191.64. The firm has a market cap of $74.55 billion, a PE ratio of 13.67, a PEG ratio of 1.57 and a beta of 1.16. 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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.16 earnings per share. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PNC shares. The Goldman Sachs Group upped their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Piper Sandler boosted their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Truist Financial lifted their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Finally, Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $205.00.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $209.24, for a total value of $259,876.08. Following the transaction, the chief executive officer now directly owns 532,523 shares of the company’s stock, valued at $111,425,112.52. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 12,420 shares of company stock valued at $2,474,722 over the last quarter. 0.42% of the stock is owned by company insiders.

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.