Life Cycle Investment Partners Ltd Takes Position in The PNC Financial Services Group, Inc $PNC

Life Cycle Investment Partners Ltd acquired a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 137,156 shares of the financial services provider’s stock, valued at approximately $28,629,000.

Several other institutional investors have also recently made changes to their positions in PNC. Quarry LP acquired a new position in shares of The PNC Financial Services Group during the third quarter valued at about $25,000. Westfuller Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the third quarter valued at about $34,000. Beacon Financial Strategies CORP acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at about $35,000. JPL Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the third quarter valued at about $37,000. Finally, Financial Life Planners acquired a new position in shares of The PNC Financial Services Group during the third quarter valued at about $39,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 0.5%

PNC opened at $219.50 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The PNC Financial Services Group, Inc has a fifty-two week low of $169.32 and a fifty-two week high of $243.94. The firm has a market capitalization of $88.14 billion, a PE ratio of 12.75, a P/E/G ratio of 0.91 and a beta of 0.94. The company’s 50-day moving average is $214.39 and its 200 day moving average is $211.74.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the prior year, the business posted $3.51 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. As a group, research analysts predict that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were paid a $1.70 dividend. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 annualized dividend and a yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 39.51%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PNC. Barclays upped their price objective on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. Jefferies Financial Group began coverage on shares of The PNC Financial Services Group in a report on Thursday, March 26th. They issued a “buy” rating and a $250.00 target price on the stock. Finally, Truist Financial upped their target price on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a “hold” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of “Moderate Buy” and an average price target of $243.11.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.