Certuity LLC Increases Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Certuity LLC grew its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,193 shares of the financial services provider’s stock after purchasing an additional 2,777 shares during the period. The PNC Financial Services Group makes up about 2.2% of Certuity LLC’s holdings, making the stock its 11th biggest position. Certuity LLC’s holdings in The PNC Financial Services Group were worth $20,479,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PNC. Winch Advisory Services LLC purchased a new position in The PNC Financial Services Group in the fourth quarter worth $25,000. Richardson Financial Services Inc. grew its stake in shares of The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $30,000. Synergy Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $32,000. Finally, Financial Life Planners acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $37,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $189.29, for a total value of $235,098.18. Following the transaction, the chief executive officer now directly owns 530,039 shares in the company, valued at $100,331,082.31. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 14,904 shares of company stock worth $2,989,034. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Stock Up 1.1 %

PNC stock opened at $199.37 on Wednesday. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26. The stock has a market capitalization of $79.10 billion, a P/E ratio of 14.50, a PEG ratio of 1.64 and a beta of 1.16. The company has a 50 day moving average price of $198.12 and a two-hundred day moving average price of $190.74. 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 (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.16 earnings per share. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

Wall Street Analysts Forecast Growth

PNC has been the subject of a number of research analyst reports. Citigroup increased their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Piper Sandler raised their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Morgan Stanley boosted their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Compass Point upped their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Evercore ISI lifted their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $205.00.

About The PNC Financial Services Group

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.