Donaldson Capital Management LLC Raises Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Donaldson Capital Management LLC boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,838 shares of the financial services provider’s stock after acquiring an additional 92 shares during the period. Donaldson Capital Management LLC’s holdings in The PNC Financial Services Group were worth $1,512,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PNC. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. raised its holdings 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 valued at $28,000 after buying an additional 140 shares in the last quarter. Albion Financial Group UT purchased a new position in shares of The PNC Financial Services Group during the 4th quarter valued at about $30,000. Synergy Asset Management LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter worth approximately $32,000. Finally, Rialto Wealth Management LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of recent research reports. Citigroup boosted their price objective on shares of 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. Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group lifted their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Barclays increased their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Truist Financial lifted their price target 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. Two investment 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, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus target price of $205.00.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group 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 completion of the transaction, the chief executive officer now owns 530,039 shares of the company’s stock, valued at $100,331,082.31. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 13,662 shares of company stock worth $2,643,895. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $170.15 on Wednesday. The firm has a market capitalization of $67.34 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.55 and a beta of 1.13. The stock has a fifty day moving average of $193.39 and a 200 day moving average of $192.90. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

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, topping the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion during 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 business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.16 EPS. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date was Wednesday, January 15th. 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.