Financiere des Professionnels Fonds d investissement inc. Has $3.81 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

Financiere des Professionnels Fonds d investissement inc. raised its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 42.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,238 shares of the financial services provider’s stock after acquiring an additional 5,477 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.’s holdings in The PNC Financial Services Group were worth $3,807,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Quarry LP acquired a new position in shares of The PNC Financial Services Group during the 3rd quarter valued at about $25,000. Modus Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter valued at about $29,000. Beacon Financial Strategies CORP acquired a new position in shares of The PNC Financial Services Group during the 4th quarter valued at about $35,000. JPL Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the 3rd quarter valued at about $37,000. Finally, Financial Life Planners acquired a new position in shares of The PNC Financial Services Group during the 3rd quarter valued at about $39,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Up 0.3%

Shares of The PNC Financial Services Group stock opened at $232.81 on Thursday. The company’s fifty day simple moving average is $219.76 and its 200-day simple moving average is $215.62. The company has a market cap of $93.49 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.96 and a beta of 0.92. 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 PNC Financial Services Group, Inc has a 1 year low of $172.73 and a 1 year high of $243.94.

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 business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The PNC Financial Services Group’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the company posted $3.51 earnings per share. As a group, sell-side 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were paid a $1.70 dividend. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 annualized dividend and a dividend yield of 2.9%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 39.51%.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of analyst reports. Oppenheimer increased their price objective on The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Truist Financial boosted their price objective on shares of 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. Bank of America boosted their price objective on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Jefferies Financial Group began coverage on shares of The PNC Financial Services Group in a research note on Thursday, March 26th. They issued a “buy” rating and a $250.00 price objective for the company. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $235.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $243.11.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the company’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 value of $9,925,650.00. Following the completion of the transaction, the director owned 10,749 shares of the company’s stock, valued at $2,370,906.93. This represents a 80.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Stephanie Novosel sold 1,800 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the transaction, the executive vice president directly owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.38% of the company’s stock.

About The PNC Financial Services Group

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.