Mirabella Financial Services LLP Invests $919,000 in The PNC Financial Services Group, Inc. (NYSE:PNC)

Mirabella Financial Services LLP purchased a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, Holdings Channel.com reports. The firm purchased 4,767 shares of the financial services provider’s stock, valued at approximately $919,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Winch Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at $25,000. Richardson Financial Services Inc. lifted its position in shares of The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares during the last quarter. Albion Financial Group UT acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at about $30,000. Synergy Asset Management LLC bought a new position in The PNC Financial Services Group in the fourth quarter valued at about $32,000. Finally, Rialto Wealth Management LLC bought a new position in The PNC Financial Services Group in the fourth quarter valued at about $32,000. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $152.05 on Monday. 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 company has a market capitalization of $60.17 billion, a PE ratio of 11.06, a P/E/G ratio of 1.55 and a beta of 1.04. The firm has a fifty day simple moving average of $173.63 and a 200 day simple moving average of $189.24. 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 announced its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.47 by $0.04. The company had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 4.21%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio is presently 45.20%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $202.11, for a total value of $251,020.62. Following the completion of the sale, the chief executive officer now directly owns 522,587 shares in the company, valued at $105,620,058.57. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders sold 11,819 shares of company stock worth $2,127,508. 0.41% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Stephens reissued an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday, January 17th. Citigroup decreased their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. The Goldman Sachs Group cut their price objective on The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Truist Financial dropped their target price on The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating for the company in a research report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods lowered their price objective on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a research note on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $200.88.

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.