Eagle Wealth Strategies LLC Raises Stock Holdings in The PNC Financial Services Group, Inc $PNC

Eagle Wealth Strategies LLC increased its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 268.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,304 shares of the financial services provider’s stock after purchasing an additional 9,692 shares during the period. The PNC Financial Services Group makes up approximately 1.3% of Eagle Wealth Strategies LLC’s portfolio, making the stock its 12th biggest holding. Eagle Wealth Strategies LLC’s holdings in The PNC Financial Services Group were worth $2,777,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Quarry LP bought a new position in shares of The PNC Financial Services Group in the 3rd quarter worth $25,000. Westfuller Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at $34,000. JPL Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth $37,000. Financial Life Planners bought a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth $39,000. Finally, Palisade Asset Management LLC purchased a new position in The PNC Financial Services Group in the third quarter worth $42,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Alexander E. C. Overstrom sold 2,500 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total transaction of $584,775.00. Following the transaction, the executive vice president directly owned 21,120 shares of the company’s stock, valued at approximately $4,940,179.20. The trade was a 10.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 50,000 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the completion of the transaction, the chief executive officer owned 554,274 shares of the company’s stock, valued at $127,970,781.12. This trade represents a 8.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 64,186 shares of company stock worth $14,840,973. 0.41% of the stock is currently owned by insiders.

Analyst Ratings Changes

PNC has been the topic of a number of research analyst reports. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. TD Cowen upped their price objective on The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Royal Bank Of Canada increased their price objective on The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Monday, December 22nd. Finally, Truist Financial boosted their target price on 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. Fifteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $234.44.

The PNC Financial Services Group Trading Up 0.5%

PNC opened at $202.10 on Friday. The business has a 50 day simple moving average of $220.32 and a two-hundred day simple moving average of $205.17. The firm has a market capitalization of $81.52 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 0.90 and a beta of 0.98. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $243.94.

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. Analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were issued a $1.70 dividend. The ex-dividend date was Tuesday, January 20th. This represents a $6.80 annualized dividend and a yield of 3.4%. The PNC Financial Services Group’s payout ratio is 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.