Sivia Capital Partners LLC Boosts Stake in The PNC Financial Services Group, Inc $PNC

Sivia Capital Partners LLC increased its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 64.5% in the 4th quarter, Holdings Channel reports. The firm owned 9,830 shares of the financial services provider’s stock after buying an additional 3,855 shares during the period. Sivia Capital Partners LLC’s holdings in The PNC Financial Services Group were worth $2,052,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in PNC. Norges Bank purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $1,967,080,000. Viking Global Investors LP increased its position in The PNC Financial Services Group by 234.9% in the 3rd quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock valued at $1,598,753,000 after acquiring an additional 5,581,102 shares during the period. Wellington Management Group LLP increased its position in The PNC Financial Services Group by 50.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,485,320 shares of the financial services provider’s stock valued at $700,305,000 after acquiring an additional 1,162,964 shares during the period. AQR Capital Management LLC increased its position in The PNC Financial Services Group by 32.6% in the 3rd quarter. AQR Capital Management LLC now owns 4,425,905 shares of the financial services provider’s stock valued at $889,297,000 after acquiring an additional 1,086,941 shares during the period. Finally, Capital International Investors increased its position in The PNC Financial Services Group by 6.0% in the 3rd quarter. Capital International Investors now owns 10,835,687 shares of the financial services provider’s stock valued at $2,177,318,000 after acquiring an additional 609,755 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $218.52 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The business’s 50 day moving average is $217.24 and its two-hundred day moving average is $213.95. The PNC Financial Services Group, Inc has a 12-month low of $172.73 and a 12-month high of $243.94. The stock has a market capitalization of $87.75 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 0.92 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The company had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the previous year, the firm posted $3.51 EPS. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. Research analysts expect that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were given a dividend of $1.70 per share. 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 payout ratio is presently 39.51%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the transaction, the director owned 10,749 shares in the company, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on The PNC Financial Services Group in a research report on Thursday, March 26th. They issued a “buy” rating and a $250.00 price target on the stock. Truist Financial boosted their price target on The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a research report on Thursday, April 16th. Morgan Stanley boosted their price target on The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a research report on Thursday, April 16th. Bank of America boosted their price target on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, JPMorgan Chase & Co. boosted their price target on The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and a consensus target price of $243.11.

The PNC Financial Services Group Profile

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.