The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 11.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 31,988 shares of the financial services provider’s stock after acquiring an additional 3,411 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in The PNC Financial Services Group were worth $6,169,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Mercer Global Advisors Inc. ADV increased its position in shares of The PNC Financial Services Group by 9.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 29,510 shares of the financial services provider’s stock valued at $4,588,000 after buying an additional 2,670 shares in the last quarter. XTX Topco Ltd acquired a new stake in The PNC Financial Services Group in the 2nd quarter valued at $512,000. Intech Investment Management LLC increased its holdings in The PNC Financial Services Group by 65.9% in the 2nd quarter. Intech Investment Management LLC now owns 3,003 shares of the financial services provider’s stock worth $467,000 after acquiring an additional 1,193 shares in the last quarter. Ieq Capital LLC raised its position in The PNC Financial Services Group by 22.0% during the second quarter. Ieq Capital LLC now owns 14,976 shares of the financial services provider’s stock worth $2,328,000 after acquiring an additional 2,697 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in The PNC Financial Services Group by 16.6% during the second quarter. Canada Pension Plan Investment Board now owns 334,744 shares of the financial services provider’s stock valued at $52,046,000 after purchasing an additional 47,618 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $198.36 on Monday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $78.71 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16. The firm’s 50-day moving average is $201.40 and its two-hundred day moving average is $187.23. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.16 EPS. Analysts predict that The PNC Financial Services Group, Inc. will post 13.47 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PNC. Compass Point upped their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Truist Financial boosted their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday. Stephens restated an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday. The Goldman Sachs Group boosted their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Morgan Stanley raised their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $205.00.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $189.50, for a total transaction of $235,359.00. Following the completion of the transaction, the chief executive officer now directly owns 543,523 shares in the company, valued at $102,997,608.50. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the sale, the director now owns 915 shares in the company, valued at $170,299.80. This represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,030 shares of company stock valued at $5,928,202. 0.42% of the stock is currently owned by insiders.

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.