The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 88,695 shares of the financial services provider’s stock after acquiring an additional 5,248 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in The PNC Financial Services Group were worth $17,105,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Daiwa Securities Group Inc. grew its position in The PNC Financial Services Group by 7.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 52,084 shares of the financial services provider’s stock valued at $10,044,000 after acquiring an additional 3,573 shares in the last quarter. Midland Wealth Advisors LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $200,000. Simplicity Wealth LLC boosted its stake in shares of The PNC Financial Services Group by 7.1% in the 4th quarter. Simplicity Wealth LLC now owns 1,396 shares of the financial services provider’s stock valued at $269,000 after buying an additional 93 shares during the period. AlphaQuest LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $1,351,000. Finally, OFI Invest Asset Management purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $43,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $203.06, for a total transaction of $252,200.52. Following the transaction, the chief executive officer now owns 531,281 shares of the company’s stock, valued at $107,881,919.86. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders have sold 12,420 shares of company stock valued at $2,421,788. Company insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PNC. Piper Sandler lifted 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. Truist Financial boosted their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Wells Fargo & Company boosted 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. Stephens restated an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Finally, Compass Point boosted their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Trading Up 0.4 %

NYSE:PNC opened at $179.75 on Monday. The firm has a market cap of $71.14 billion, a P/E ratio of 13.07, a PEG ratio of 1.55 and a beta of 1.13. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock’s 50 day simple moving average is $194.20 and its 200-day simple moving average is $192.96. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates 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 company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.16 earnings per share. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is currently 46.55%.

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.