BI Asset Management Fondsmaeglerselskab A S Boosts Holdings in The PNC Financial Services Group, Inc $PNC

BI Asset Management Fondsmaeglerselskab A S lifted its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 77.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 83,968 shares of the financial services provider’s stock after buying an additional 36,627 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in The PNC Financial Services Group were worth $17,527,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Quarry LP purchased a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at about $25,000. Beacon Financial Strategies CORP purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at $35,000. JPL Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the 3rd quarter valued at $37,000. Financial Life Planners purchased a new stake in The PNC Financial Services Group in the third quarter worth $39,000. Finally, Cornerstone Planning Group LLC grew its position in shares of The PNC Financial Services Group by 2,100.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 176 shares of the financial services provider’s stock worth $39,000 after buying an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Up 0.7%

Shares of PNC opened at $228.76 on Friday. 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 stock’s 50 day moving average is $218.12 and its two-hundred day moving average is $214.36. The firm has a market cap of $91.86 billion, a P/E ratio of 13.29, a PEG ratio of 0.95 and a beta of 0.92. The PNC Financial Services Group, Inc has a 12 month low of $172.73 and a 12 month high of $243.94.

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

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.0%. The PNC Financial Services Group’s payout ratio is 39.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Barclays raised their price objective on The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Truist Financial raised their price objective on The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a “hold” rating in a research note on Thursday, April 16th. Citigroup raised their price objective on The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. lifted 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. Finally, Morgan Stanley lifted 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. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and an average price target of $243.11.

The PNC Financial Services Group Company 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.