Global Retirement Partners LLC Increases Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Global Retirement Partners LLC grew its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 13,832 shares of the financial services provider’s stock after purchasing an additional 454 shares during the period. Global Retirement Partners LLC’s holdings in The PNC Financial Services Group were worth $2,668,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PNC. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter worth about $25,000. Richardson Financial Services Inc. lifted its holdings in The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares during the last quarter. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group during the 4th quarter worth about $30,000. Synergy Asset Management LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter worth about $32,000. Finally, Valley Wealth Managers Inc. lifted its holdings in The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after buying an additional 200 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PNC. Citigroup lifted their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Morgan Stanley lifted their target price on 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. Piper Sandler lifted their target price 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. The Goldman Sachs Group lifted their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Compass Point lifted their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $194.19 on Thursday. The PNC Financial Services Group, Inc. has a twelve month low of $139.69 and a twelve month high of $216.26. The stock’s 50 day moving average is $196.55 and its two-hundred day moving average is $191.49. The firm has a market capitalization of $77.05 billion, a PE ratio of 14.12, a P/E/G ratio of 1.56 and a beta of 1.16. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced 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 return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the company earned $3.16 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a $1.60 dividend. 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 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 business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $216.01, for a total transaction of $268,284.42. Following the sale, the chief executive officer now owns 533,765 shares of the company’s stock, valued at $115,298,577.65. The trade was a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In 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 corporate 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.