Encompass More Asset Management Purchases 290 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Encompass More Asset Management grew its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 26.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,376 shares of the financial services provider’s stock after purchasing an additional 290 shares during the quarter. Encompass More Asset Management’s holdings in The PNC Financial Services Group were worth $265,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Impact Partnership Wealth LLC acquired a new position in The PNC Financial Services Group during the fourth quarter valued at approximately $834,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in shares of The PNC Financial Services Group by 30.9% during the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 13,153 shares of the financial services provider’s stock worth $2,532,000 after purchasing an additional 3,103 shares in the last quarter. McGlone Suttner Wealth Management Inc. grew its holdings in shares of The PNC Financial Services Group by 5.2% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 2,341 shares of the financial services provider’s stock valued at $452,000 after buying an additional 116 shares during the period. Brighton Jones LLC increased its position in shares of The PNC Financial Services Group by 32.2% in the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after buying an additional 984 shares in the last quarter. Finally, Apeiron RIA LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter worth $220,000. Institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PNC. Piper Sandler lifted their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Evercore ISI increased their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Keefe, Bruyette & Woods upped their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Trading Up 0.9 %

Shares of The PNC Financial Services Group stock opened at $199.49 on Friday. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26. 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 business’s 50 day moving average is $200.45 and its 200-day moving average is $188.14. The stock has a market cap of $79.15 billion, a P/E ratio of 14.51, a P/E/G ratio of 1.59 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the firm posted $3.16 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $189.50, for a total value of $235,359.00. Following the transaction, the chief executive officer now directly owns 543,523 shares of the company’s stock, valued at $102,997,608.50. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,171 shares of company stock valued at $5,777,926 over the last 90 days. 0.42% of the stock is currently owned by 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.