The PNC Financial Services Group, Inc $PNC Shares Bought by HB Wealth Management LLC

HB Wealth Management LLC raised its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 7.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,157 shares of the financial services provider’s stock after purchasing an additional 3,672 shares during the quarter. HB Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $10,882,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Cullen Capital Management LLC raised its stake in The PNC Financial Services Group by 3.8% during the second quarter. Cullen Capital Management LLC now owns 204,875 shares of the financial services provider’s stock valued at $38,193,000 after buying an additional 7,478 shares in the last quarter. Harbour Investments Inc. increased its holdings in shares of The PNC Financial Services Group by 115.1% in the 2nd quarter. Harbour Investments Inc. now owns 5,631 shares of the financial services provider’s stock valued at $1,050,000 after acquiring an additional 3,013 shares during the last quarter. OMNI 360 Wealth Inc. acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at approximately $573,000. AQR Capital Management LLC raised its position in shares of The PNC Financial Services Group by 134.9% during the 2nd quarter. AQR Capital Management LLC now owns 3,338,964 shares of the financial services provider’s stock valued at $622,450,000 after acquiring an additional 1,917,530 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in The PNC Financial Services Group by 8,659.4% during the first quarter. Acadian Asset Management LLC now owns 26,979 shares of the financial services provider’s stock worth $4,739,000 after purchasing an additional 26,671 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Michael Duane Thomas sold 1,000 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the sale, the executive vice president directly owned 5,802 shares in the company, valued at $1,065,073.14. The trade was a 14.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $186.97, for a total transaction of $201,927.60. Following the completion of the sale, the executive vice president directly owned 27,335 shares of the company’s stock, valued at $5,110,824.95. The trade was a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.41% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on PNC shares. Piper Sandler upgraded shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $211.00 to $220.00 in a research note on Thursday, October 9th. Evercore ISI boosted their price objective on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Truist Financial increased their price objective on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a research note on Thursday, December 18th. Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. Finally, TD Cowen upped their target price on The PNC Financial Services Group from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.06.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $218.60 on Friday. The company has a 50-day moving average price of $198.75 and a two-hundred day moving average price of $195.93. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $220.54. The stock has a market cap of $85.73 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 1.08 and a beta of 0.99. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The business had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. During the same period in the previous year, the firm posted $3.49 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. Analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $6.80 annualized dividend and a dividend yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio is presently 43.93%.

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.