Portland Global Advisors LLC Buys Shares of 1,073 The PNC Financial Services Group, Inc. (NYSE:PNC)

Portland Global Advisors LLC acquired a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,073 shares of the financial services provider’s stock, valued at approximately $207,000.

A number of other hedge funds have also recently made changes to their positions in PNC. Baltimore Washington Financial Advisors Inc. lifted its position in shares of The PNC Financial Services Group by 3.1% during the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock valued at $324,000 after buying an additional 51 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in The PNC Financial Services Group by 2.4% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock valued at $434,000 after acquiring an additional 53 shares in the last quarter. Transcend Capital Advisors LLC grew its holdings in The PNC Financial Services Group by 1.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock worth $616,000 after purchasing an additional 55 shares during the last quarter. Valmark Advisers Inc. boosted its position in shares of The PNC Financial Services Group by 1.4% in the 4th quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock worth $773,000 after purchasing an additional 56 shares in the last quarter. Finally, Red Wave Investments LLC increased its position in The PNC Financial Services Group by 3.1% during the 3rd quarter. Red Wave Investments LLC now owns 1,907 shares of the financial services provider’s stock valued at $353,000 after buying an additional 58 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $171.15, for a total value of $212,568.30. Following the completion of the transaction, the chief executive officer now directly owns 567,299 shares of the company’s stock, valued at approximately $97,093,223.85. This represents a 0.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 12,420 shares of company stock valued at $2,342,313 over the last quarter. 0.41% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PNC. Piper Sandler upped 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 note on Tuesday, December 3rd. Morgan Stanley increased their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Citigroup decreased their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday, March 24th. Truist Financial increased their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Finally, Wells Fargo & Company decreased their price objective on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $204.25.

The PNC Financial Services Group Stock Down 1.8 %

Shares of PNC opened at $171.83 on Friday. The firm has a market cap of $68.00 billion, a P/E ratio of 12.50, a PEG ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26. The stock’s 50 day moving average is $187.91 and its two-hundred day moving average is $192.10. 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 PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.26 by $0.51. The company 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 firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.16 EPS. 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.72%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

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.