Michael S. Ryan Inc. Has $384,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Michael S. Ryan Inc. lifted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,989 shares of the financial services provider’s stock after buying an additional 69 shares during the quarter. Michael S. Ryan Inc.’s holdings in The PNC Financial Services Group were worth $384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PNC. Valley Wealth Managers Inc. increased its stake in shares of The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 200 shares during the period. Y.D. More Investments Ltd acquired a new stake in The PNC Financial Services Group in the 2nd quarter worth about $33,000. Capital Performance Advisors LLP bought a new stake in The PNC Financial Services Group in the 3rd quarter valued at about $51,000. Quarry LP grew its position in shares of The PNC Financial Services Group by 141.7% during the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 170 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in shares of The PNC Financial Services Group by 231.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock valued at $58,000 after buying an additional 220 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Citigroup raised their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Barclays boosted their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday. Truist Financial started coverage on shares of The PNC Financial Services Group in a report on Tuesday. They issued a “hold” rating and a $215.00 target price on the stock. Finally, Evercore ISI upped their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and an average price target of $203.29.

The PNC Financial Services Group Trading Down 0.1 %

Shares of NYSE:PNC traded down $0.26 during mid-day trading on Wednesday, reaching $194.51. 1,562,161 shares of the company’s stock were exchanged, compared to its average volume of 2,006,322. The firm has a market capitalization of $77.18 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 2.11 and a beta of 1.16. The PNC Financial Services Group, Inc. has a twelve month low of $139.69 and a twelve month high of $216.26. The business’s fifty day moving average price is $201.22 and its 200-day moving average price is $185.16. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the previous year, the company posted $3.60 EPS. The business’s revenue was up 3.8% on a year-over-year basis. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.29%. The PNC Financial Services Group’s payout ratio is 54.10%.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $192.15, for a total transaction of $238,650.30. Following the completion of the sale, the chief executive officer now owns 527,555 shares of the company’s stock, valued at $101,369,693.25. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the transaction, the director now owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,272 shares of company stock valued at $6,155,103. 0.42% of the stock is currently owned by insiders.

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.