National Pension Service Purchases 26,305 Shares of The PNC Financial Services Group, Inc $PNC

National Pension Service boosted its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 2.5% in the third quarter, Holdings Channel reports. The institutional investor owned 1,070,589 shares of the financial services provider’s stock after buying an additional 26,305 shares during the period. National Pension Service’s holdings in The PNC Financial Services Group were worth $215,113,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. IMG Wealth Management Inc. bought a new position in The PNC Financial Services Group during the 2nd quarter worth approximately $27,000. Concord Wealth Partners grew its holdings in The PNC Financial Services Group by 144.9% in the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 100 shares during the period. Westfuller Advisors LLC acquired a new stake in The PNC Financial Services Group in the third quarter valued at approximately $34,000. FNY Investment Advisers LLC bought a new stake in shares of The PNC Financial Services Group during the second quarter worth about $37,000. Finally, True Wealth Design LLC boosted its position in shares of The PNC Financial Services Group by 1,133.3% during the second quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock valued at $41,000 after buying an additional 204 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on PNC shares. Truist Financial increased their price objective on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the company 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. Piper Sandler raised 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 report on Thursday, October 9th. Keefe, Bruyette & Woods upped their price target on The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a research report on Tuesday, January 20th. Finally, Royal Bank Of Canada upped their price target on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $231.00.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total transaction of $183,570.00. Following the completion of the transaction, the executive vice president owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This trade represents a 14.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Trading Down 0.5%

NYSE:PNC opened at $223.33 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 has a fifty day moving average of $210.42 and a 200 day moving average of $199.13. The firm has a market capitalization of $87.58 billion, a P/E ratio of 13.46, a P/E/G ratio of 0.94 and a beta of 0.99. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $227.78.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 earnings per share 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 for the quarter, compared to analyst estimates of $5.90 billion. During the same period last year, the company earned $3.77 EPS. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, research analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th will be given 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 3.0%. The PNC Financial Services Group’s dividend payout ratio is currently 40.99%.

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.