The PNC Financial Services Group, Inc $PNC Shares Acquired by RFG Advisory LLC

RFG Advisory LLC increased its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 206.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,379 shares of the financial services provider’s stock after buying an additional 2,948 shares during the quarter. RFG Advisory LLC’s holdings in The PNC Financial Services Group were worth $911,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Monetary Solutions Ltd bought a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $25,000. Quarry LP bought a new stake in The PNC Financial Services Group in the 3rd quarter valued at about $25,000. Modus Advisors LLC bought a new stake in The PNC Financial Services Group in the 4th quarter valued at about $29,000. Kemnay Advisory Services Inc. bought a new stake in The PNC Financial Services Group in the 4th quarter valued at about $32,000. Finally, EFG International AG acquired a new position in The PNC Financial Services Group during the 4th quarter valued at about $33,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $245.61 on Monday. The PNC Financial Services Group, Inc has a twelve month low of $176.88 and a twelve month high of $249.01. 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 firm has a 50-day moving average of $224.53 and a two-hundred day moving average of $219.27. The company has a market capitalization of $98.63 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.00 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data 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 net margin of 20.89% and a return on equity of 12.10%. 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 company posted $3.51 EPS. The business’s revenue was up 13.1% compared to the same quarter last year. As a group, analysts expect that The PNC Financial Services Group, Inc will post 18.81 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were issued a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 annualized dividend and a dividend yield of 2.8%. The PNC Financial Services Group’s dividend payout ratio is currently 39.51%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PNC shares. Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Keefe, Bruyette & Woods boosted their price objective on The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a research report on Thursday, April 16th. Truist Financial increased their price objective on The PNC Financial Services Group from $245.00 to $257.00 and gave the stock a “hold” rating in a report on Friday. Stephens began coverage on The PNC Financial Services Group in a research report on Monday, June 15th. They issued an “overweight” rating and a $265.00 target price on the stock. Finally, Citigroup lifted their target price on The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $247.39.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Michael Duane Thomas sold 1,500 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the sale, the executive vice president directly owned 5,059 shares of the company’s stock, valued at $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew T. Feldstein sold 45,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the sale, the director directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 48,300 shares of company stock valued at $10,694,574. Corporate insiders own 0.38% of the company’s stock.

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.