Myriad Asset Management US LP Acquires Shares of 2,910 The PNC Financial Services Group, Inc $PNC

Myriad Asset Management US LP purchased a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,910 shares of the financial services provider’s stock, valued at approximately $585,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. IMG Wealth Management Inc. bought a new stake in The PNC Financial Services Group in the 2nd quarter valued at about $27,000. Concord Wealth Partners boosted its stake in shares of The PNC Financial Services Group by 144.9% during the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at $37,000. Bayforest Capital Ltd increased its position in shares of The PNC Financial Services Group by 237.1% in the third quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 147 shares in the last quarter. Finally, True Wealth Design LLC raised its stake in The PNC Financial Services Group by 1,133.3% during the 2nd quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 204 shares during the period. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,000 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total value of $183,570.00. Following the transaction, the executive vice president directly owned 5,802 shares of the company’s stock, valued at $1,065,073.14. This represents a 14.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.41% of the stock is owned by insiders.

The PNC Financial Services Group Trading Down 1.6%

Shares of NYSE PNC opened at $221.98 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.94. The company’s fifty day moving average is $205.70 and its 200-day moving average is $198.05. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $227.78. The stock has a market cap of $87.05 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 0.94 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The firm had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $5.90 billion. During the same quarter in the prior year, the company earned $3.77 EPS. The company’s revenue was up 9.1% on a year-over-year basis. Equities research analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Tuesday, January 20th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.1%. The PNC Financial Services Group’s payout ratio is presently 40.99%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. TD Cowen boosted their price objective on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday. UBS Group increased their price target on The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Royal Bank Of Canada lifted their price objective on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday. Truist Financial boosted their target price on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a research report on Thursday, December 18th. Finally, Evercore ISI upped their target price on The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and a consensus price target of $231.00.

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.