Ensign Peak Advisors Inc Boosts Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Ensign Peak Advisors Inc boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 21.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 277,755 shares of the financial services provider’s stock after purchasing an additional 49,464 shares during the quarter. Ensign Peak Advisors Inc owned about 0.07% of The PNC Financial Services Group worth $53,565,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Winch Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. increased its holdings in shares of The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Albion Financial Group UT purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth $30,000. Synergy Asset Management LLC bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at $32,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at $32,000. 83.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on PNC shares. Barclays decreased their target price on The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company dropped their target price on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. 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. Keefe, Bruyette & Woods dropped their price target on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 16th. Finally, Truist Financial reduced their price objective on The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating for the company in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $200.88.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $163.16, for a total value of $202,644.72. Following the sale, the chief executive officer now directly owns 558,605 shares in the company, valued at approximately $91,141,991.80. The trade was a 0.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Martin Pfinsgraff acquired 1,000 shares of the company’s stock in a transaction on Friday, April 25th. The shares were bought at an average cost of $158.22 per share, with a total value of $158,220.00. Following the acquisition, the director now directly owns 2,009 shares in the company, valued at approximately $317,863.98. The trade was a 99.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 13,662 shares of company stock worth $2,322,006. 0.41% of the stock is owned by corporate insiders.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $166.44 on Friday. The company has a market capitalization of $65.84 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.55 and a beta of 1.06. The PNC Financial Services Group, Inc. has a 1-year low of $145.12 and a 1-year high of $216.26. The firm’s 50 day simple moving average is $164.74 and its two-hundred day simple moving average is $186.58. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.47 by $0.04. The firm had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. Research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 45.20%.

The PNC Financial Services Group 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.