SVB Wealth LLC Makes New $1.70 Million Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

SVB Wealth LLC bought a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,821 shares of the financial services provider’s stock, valued at approximately $1,701,000.

Several other large investors have also recently added to or reduced their stakes in PNC. Winch Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at $25,000. Richardson Financial Services Inc. increased its holdings in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at $30,000. Synergy Asset Management LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at $32,000. Finally, Whipplewood Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at $33,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 13th. The stock was sold at an average price of $203.06, for a total transaction of $252,200.52. Following the completion of the sale, the chief executive officer now directly owns 531,281 shares in the company, valued at approximately $107,881,919.86. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 12,420 shares of company stock worth $2,445,461. 0.42% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PNC has been the topic of a number of research analyst reports. Stephens reissued an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. Truist Financial raised their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a report on Friday, January 17th. Wells Fargo & Company raised their price target 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. The Goldman Sachs Group raised their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, 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 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 company’s stock. According to data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group Trading Up 1.9 %

NYSE:PNC opened at $192.05 on Monday. 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, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26. The firm has a market capitalization of $76.00 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. The stock has a fifty day simple moving average of $195.42 and a 200 day simple moving average of $192.66.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results 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 business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the company posted $3.16 EPS. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts forecast 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 business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.33%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

The PNC Financial Services Group Company 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.