Jmac Enterprises LLC Grows Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Jmac Enterprises LLC increased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.9% during the 4th quarter, Holdings Channel reports. The fund owned 10,890 shares of the financial services provider’s stock after purchasing an additional 700 shares during the quarter. Jmac Enterprises LLC’s holdings in The PNC Financial Services Group were worth $2,100,000 as of its most recent filing with the Securities & Exchange Commission.

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

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $199.37 on Wednesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $79.10 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. The firm’s 50-day moving average is $198.12 and its two-hundred day moving average is $190.74. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released 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 firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.16 earnings per share. Analysts predict that The PNC Financial Services Group, Inc. will post 15.3 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis 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 is presently 46.55%.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $205.98, for a total transaction of $255,827.16. Following the completion of the transaction, the chief executive officer now owns 535,007 shares of the company’s stock, valued at approximately $110,200,741.86. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 14,904 shares of company stock valued at $2,989,034. 0.42% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of recent analyst reports. Evercore ISI increased 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 report on Wednesday, October 16th. Citigroup lifted their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Keefe, Bruyette & Woods upped their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Truist Financial increased their price objective on shares of 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. Finally, Piper Sandler boosted their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Company 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.