Bourgeon Capital Management LLC Has $12.89 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Bourgeon Capital Management LLC decreased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,855 shares of the financial services provider’s stock after selling 310 shares during the quarter. The PNC Financial Services Group makes up about 2.4% of Bourgeon Capital Management LLC’s investment portfolio, making the stock its 13th biggest holding. Bourgeon Capital Management LLC’s holdings in The PNC Financial Services Group were worth $12,893,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNC. International Assets Investment Management LLC increased its position in shares of The PNC Financial Services Group by 12,940.0% in the third quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock valued at $99,262,000 after acquiring an additional 532,871 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in The PNC Financial Services Group by 160.9% in the third quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock valued at $129,836,000 after purchasing an additional 433,178 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of The PNC Financial Services Group by 152.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock worth $71,163,000 after purchasing an additional 276,200 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of The PNC Financial Services Group by 88.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock valued at $108,217,000 after buying an additional 274,186 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of The PNC Financial Services Group by 5,419.9% in the second quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock valued at $40,277,000 after buying an additional 254,356 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $190.27, for a total value of $236,315.34. Following the completion of the sale, the chief executive officer now directly owns 544,765 shares of the company’s stock, valued at approximately $103,652,436.55. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the transaction, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,171 shares of company stock valued at $5,768,325. 0.42% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Citigroup lifted their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Morgan Stanley upped their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Truist Financial raised their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $198.59 on Wednesday. The stock’s 50 day moving average price is $201.17 and its two-hundred day moving average price is $187.72. The stock has a market capitalization of $78.80 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.62 and a beta of 1.16. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the business earned $3.16 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 15.2 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.22%. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.