HBK Sorce Advisory LLC Raises Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

HBK Sorce Advisory LLC lifted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,030 shares of the financial services provider’s stock after purchasing an additional 246 shares during the period. HBK Sorce Advisory LLC’s holdings in The PNC Financial Services Group were worth $3,670,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ increased its stake in shares of The PNC Financial Services Group by 37.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 108,931 shares of the financial services provider’s stock worth $20,972,000 after purchasing an additional 29,700 shares during the last quarter. Erste Asset Management GmbH bought a new position in The PNC Financial Services Group in the 4th quarter worth approximately $6,423,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in The PNC Financial Services Group by 3.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,782 shares of the financial services provider’s stock worth $4,008,000 after buying an additional 653 shares during the period. Avantax Advisory Services Inc. boosted its holdings in The PNC Financial Services Group by 2.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 54,475 shares of the financial services provider’s stock worth $10,506,000 after buying an additional 1,328 shares during the period. Finally, Essential Planning LLC. bought a new position in The PNC Financial Services Group in the 4th quarter worth approximately $1,928,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on PNC. Piper Sandler raised their price objective on shares of 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. Morgan Stanley raised 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 report on Friday, January 17th. Stephens reissued an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. Compass Point raised their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Wells Fargo & Company raised their price target on shares of 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $205.00.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, March 7th. The shares were sold at an average price of $178.83, for a total value of $222,106.86. Following the transaction, the chief executive officer now owns 568,541 shares in the company, valued at $101,672,187.03. This trade represents a 0.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 13,662 shares of company stock worth $2,643,895 in the last 90 days. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $171.02 on Thursday. The firm’s fifty day moving average price is $192.95 and its 200-day moving average price is $192.74. 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 cap of $67.68 billion, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.16 EPS. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is presently 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.