BHK Investment Advisors LLC Purchases 333 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

BHK Investment Advisors LLC grew its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 19.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,038 shares of the financial services provider’s stock after buying an additional 333 shares during the period. BHK Investment Advisors LLC’s holdings in The PNC Financial Services Group were worth $393,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PNC. Mirae Asset Global Investments Co. Ltd. raised its holdings in The PNC Financial Services Group by 25.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock worth $7,739,000 after purchasing an additional 8,081 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its position in shares of The PNC Financial Services Group by 48.5% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock worth $5,160,000 after buying an additional 8,735 shares during the period. Concurrent Investment Advisors LLC raised its stake in shares of The PNC Financial Services Group by 45.6% during the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after buying an additional 2,009 shares during the last quarter. Root Financial Partners LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $346,000. Finally, Truist Financial Corp boosted its stake in The PNC Financial Services Group by 1.4% in the fourth quarter. Truist Financial Corp now owns 1,132,634 shares of the financial services provider’s stock valued at $218,429,000 after acquiring an additional 15,246 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $192.45, for a total value of $239,022.90. Following the completion of the sale, the chief executive officer now directly owns 571,025 shares of the company’s stock, valued at $109,893,761.25. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders sold 13,662 shares of company stock worth $2,713,745. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Down 0.7 %

NYSE:PNC opened at $186.68 on Tuesday. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The firm has a market capitalization of $74.07 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 1.55 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 stock’s 50 day moving average price is $195.80 and its two-hundred day moving average price is $192.09.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share 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 net margin of 17.10% and a return on equity of 11.12%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.16 earnings per share. Equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.43%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

Analysts Set New Price Targets

Several brokerages have commented on PNC. The Goldman Sachs Group upped their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Citigroup upped their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Piper Sandler raised their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Barclays upped their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Morgan Stanley lifted 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 note on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $205.00.

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.