Valeo Financial Advisors LLC Boosts Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Valeo Financial Advisors LLC boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,759 shares of the financial services provider’s stock after purchasing an additional 196 shares during the period. Valeo Financial Advisors LLC’s holdings in The PNC Financial Services Group were worth $1,303,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. International Assets Investment Management LLC raised its holdings in The PNC Financial Services Group by 12,940.0% in the 3rd quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock worth $99,262,000 after purchasing an additional 532,871 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in The PNC Financial Services Group by 160.9% in the third quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock worth $129,836,000 after buying an additional 433,178 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in The PNC Financial Services Group by 88.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock worth $108,217,000 after buying an additional 274,186 shares during the period. Toronto Dominion Bank grew its holdings in shares of The PNC Financial Services Group by 129.3% during the 3rd quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider’s stock worth $82,768,000 after acquiring an additional 252,473 shares during the period. Finally, Eastern Bank raised its position in shares of The PNC Financial Services Group by 1,884.1% in the 3rd quarter. Eastern Bank now owns 248,812 shares of the financial services provider’s stock worth $45,993,000 after acquiring an additional 236,272 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC opened at $193.91 on Friday. The company’s 50-day simple moving average is $197.11 and its two-hundred day simple moving average is $191.02. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $76.94 billion, a P/E ratio of 14.10, a P/E/G ratio of 1.64 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the firm earned $3.16 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts predict that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $216.01, for a total value of $268,284.42. Following the completion of the sale, the chief executive officer now directly owns 533,765 shares in the company, valued at $115,298,577.65. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last 90 days, insiders have sold 13,662 shares of company stock valued at $2,730,549. 0.42% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PNC shares. Citigroup lifted their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Barclays lifted their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Morgan Stanley upped 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 report on Friday, January 17th. Finally, Piper Sandler boosted their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.