The PNC Financial Services Group, Inc. (NYSE:PNC) Holdings Boosted by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. raised its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 74.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 30,244 shares of the financial services provider’s stock after acquiring an additional 12,919 shares during the period. The PNC Financial Services Group accounts for 0.8% of EFG Asset Management North America Corp.’s investment portfolio, making the stock its 29th biggest position. EFG Asset Management North America Corp.’s holdings in The PNC Financial Services Group were worth $5,838,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PNC. Principal Financial Group Inc. grew its stake in The PNC Financial Services Group by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock valued at $420,621,000 after acquiring an additional 22,271 shares in the last quarter. Great Valley Advisor Group Inc. boosted its holdings in shares of The PNC Financial Services Group by 3.0% during the third quarter. Great Valley Advisor Group Inc. now owns 7,989 shares of the financial services provider’s stock worth $1,477,000 after purchasing an additional 230 shares during the period. Cerity Partners LLC grew its position in The PNC Financial Services Group by 38.2% during the third quarter. Cerity Partners LLC now owns 121,379 shares of the financial services provider’s stock valued at $22,437,000 after purchasing an additional 33,540 shares in the last quarter. Swedbank AB increased its stake in The PNC Financial Services Group by 0.4% in the 3rd quarter. Swedbank AB now owns 212,137 shares of the financial services provider’s stock valued at $39,214,000 after buying an additional 855 shares during the period. Finally, Larson Financial Group LLC lifted its position in The PNC Financial Services Group by 7.6% in the 3rd quarter. Larson Financial Group LLC now owns 12,908 shares of the financial services provider’s stock worth $2,386,000 after buying an additional 909 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Barclays boosted their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Piper Sandler upped their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Stephens reiterated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. Citigroup dropped their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday. Finally, Compass Point lifted their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $201.65.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $176.56 on Tuesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26. The company’s fifty day moving average price is $189.70 and its 200 day moving average price is $192.31. The company has a market capitalization of $69.88 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.16 EPS. As a group, analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.62%. The PNC Financial Services Group’s dividend payout ratio is 46.55%.

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 stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $192.15, for a total value of $238,650.30. Following the completion of the sale, the chief executive officer now directly owns 527,555 shares of the company’s stock, valued at $101,369,693.25. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have sold 13,662 shares of company stock worth $2,582,789. Insiders own 0.42% of the company’s stock.

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.