IFP Advisors Inc Has $900,000 Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

IFP Advisors Inc boosted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 14.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,664 shares of the financial services provider’s stock after acquiring an additional 597 shares during the quarter. IFP Advisors Inc’s holdings in The PNC Financial Services Group were worth $900,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PNC. Diversify Advisory Services LLC lifted its holdings in shares of The PNC Financial Services Group by 5.2% during the third quarter. Diversify Advisory Services LLC now owns 2,053 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 102 shares during the period. Farmers & Merchants Investments Inc. increased its position in The PNC Financial Services Group by 51.4% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 421 shares of the financial services provider’s stock valued at $78,000 after buying an additional 143 shares in the last quarter. Valmark Advisers Inc. raised its position in shares of The PNC Financial Services Group by 10.8% during the third quarter. Valmark Advisers Inc. now owns 3,954 shares of the financial services provider’s stock worth $731,000 after purchasing an additional 385 shares during the period. First Trust Direct Indexing L.P. raised its holdings in The PNC Financial Services Group by 16.5% during the third quarter. First Trust Direct Indexing L.P. now owns 14,355 shares of the financial services provider’s stock worth $2,654,000 after buying an additional 2,031 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its position in The PNC Financial Services Group by 242.6% in the 3rd quarter. JFS Wealth Advisors LLC now owns 10,341 shares of the financial services provider’s stock valued at $1,912,000 after acquiring an additional 7,323 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. The Goldman Sachs Group raised their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Piper Sandler increased their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Compass Point lifted their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Stephens reissued an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Finally, Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Two equities 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 company currently has a consensus rating of “Hold” and a consensus target price of $205.00.

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 business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $209.24, for a total value of $259,876.08. Following the completion of the sale, the chief executive officer now owns 532,523 shares in the company, valued at approximately $111,425,112.52. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 12,420 shares of company stock valued at $2,445,461. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $188.46 on Friday. The stock has a market capitalization of $74.78 billion, a PE ratio of 13.71, a P/E/G ratio of 1.55 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. The company’s 50 day simple moving average is $195.43 and its two-hundred day simple moving average is $192.15. 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 PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.16 earnings per share. Analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is currently 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.