Horizon Investments LLC Buys 177 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Horizon Investments LLC raised its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 12,366 shares of the financial services provider’s stock after purchasing an additional 177 shares during the period. Horizon Investments LLC’s holdings in The PNC Financial Services Group were worth $2,365,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in shares of The PNC Financial Services Group by 1.0% in the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock worth $420,621,000 after acquiring an additional 22,271 shares during the period. Claro Advisors LLC bought a new position in shares of The PNC Financial Services Group in the third quarter worth about $380,000. Thrivent Financial for Lutherans boosted its stake in shares of The PNC Financial Services Group by 12.7% in the third quarter. Thrivent Financial for Lutherans now owns 37,096 shares of the financial services provider’s stock worth $6,857,000 after acquiring an additional 4,186 shares during the period. Drive Wealth Management LLC bought a new position in shares of The PNC Financial Services Group in the third quarter worth about $216,000. Finally, Pathstone Holdings LLC boosted its stake in shares of The PNC Financial Services Group by 2.2% in the third quarter. Pathstone Holdings LLC now owns 68,125 shares of the financial services provider’s stock worth $12,593,000 after acquiring an additional 1,471 shares during the period. Institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PNC shares. Stephens reaffirmed an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Truist Financial increased their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. The Goldman Sachs Group increased their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Citigroup increased 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 note on Monday, November 25th. Finally, Piper Sandler increased their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $205.00.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $193.62, for a total value of $240,476.04. Following the sale, the chief executive officer now directly owns 528,797 shares in the company, valued at approximately $102,385,675.14. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 13,662 shares of company stock worth $2,604,263. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Trading Down 0.5 %

Shares of PNC stock opened at $173.20 on Wednesday. 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 stock’s 50 day simple moving average is $191.18 and its two-hundred day simple moving average is $192.56. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. The company has a market cap of $68.54 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the business posted $3.16 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts predict 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 declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.70%. The PNC Financial Services Group’s payout ratio is 46.55%.

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.