LRI Investments LLC Acquires 292 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

LRI Investments LLC boosted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,562 shares of the financial services provider’s stock after buying an additional 292 shares during the quarter. LRI Investments LLC’s holdings in The PNC Financial Services Group were worth $880,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Graypoint LLC increased its stake in shares of The PNC Financial Services Group by 7.7% during the 4th quarter. Graypoint LLC now owns 3,032 shares of the financial services provider’s stock worth $585,000 after purchasing an additional 218 shares during the last quarter. Czech National Bank grew its holdings in The PNC Financial Services Group by 6.2% during the fourth quarter. Czech National Bank now owns 86,031 shares of the financial services provider’s stock valued at $16,591,000 after purchasing an additional 5,057 shares during the period. Fiduciary Alliance LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter worth $785,000. City State Bank increased its position in The PNC Financial Services Group by 59.4% in the fourth quarter. City State Bank now owns 1,132 shares of the financial services provider’s stock worth $218,000 after buying an additional 422 shares during the last quarter. Finally, Brookstone Capital Management raised its stake in shares of The PNC Financial Services Group by 14.1% in the fourth quarter. Brookstone Capital Management now owns 15,394 shares of the financial services provider’s stock valued at $2,969,000 after buying an additional 1,908 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. Barclays reduced their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. Truist Financial reduced their price objective on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating for the company in a research note on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods dropped their target price on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $200.88.

Insider Transactions at The PNC Financial Services Group

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, February 28th. The stock was sold at an average price of $190.18, for a total transaction of $236,203.56. Following the sale, the chief executive officer now owns 569,783 shares in the company, valued at $108,361,330.94. This trade represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Martin Pfinsgraff acquired 1,000 shares of the business’s stock in a transaction dated Friday, April 25th. The stock was purchased at an average price of $158.22 per share, with a total value of $158,220.00. Following the completion of the acquisition, the director now directly owns 2,009 shares in the company, valued at approximately $317,863.98. This represents a 99.11% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 13,662 shares of company stock valued at $2,322,006. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $166.44 on Monday. The stock has a market cap of $65.84 billion, a P/E ratio of 12.10, a PEG ratio of 1.55 and a beta of 1.06. 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 price is $164.74 and its two-hundred day moving average price is $186.55. The PNC Financial Services Group, Inc. has a twelve month low of $145.12 and a twelve month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.50 billion. As a group, equities analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.85%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 45.20%.

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.