The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,651,217 shares of the financial services provider’s stock after acquiring an additional 12,150 shares during the period. Envestnet Asset Management Inc.’s holdings in The PNC Financial Services Group were worth $318,437,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PNC. Baltimore Washington Financial Advisors Inc. raised its position in shares of The PNC Financial Services Group by 3.1% during the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 51 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of The PNC Financial Services Group by 2.4% during 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 worth $434,000 after purchasing an additional 53 shares in the last quarter. Transcend Capital Advisors LLC raised its stake in The PNC Financial Services Group by 1.8% in the 4th quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock valued at $616,000 after purchasing an additional 55 shares during the last quarter. Valmark Advisers Inc. lifted its holdings in 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 valued at $773,000 after purchasing an additional 56 shares in the last quarter. Finally, Gilbert & Cook Inc. boosted its stake in The PNC Financial Services Group by 2.1% during the 4th quarter. Gilbert & Cook Inc. now owns 2,787 shares of the financial services provider’s stock worth $537,000 after purchasing an additional 58 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $198.00, for a total value of $245,916.00. Following the completion of the transaction, the chief executive officer now owns 525,071 shares in the company, valued at approximately $103,964,058. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 12,420 shares of company stock valued at $2,320,739. 0.41% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $152.85 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $60.49 billion, a price-to-earnings ratio of 11.12, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The company’s 50 day simple moving average is $184.93 and its 200-day simple moving average is $191.73. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the prior year, the firm earned $3.16 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. As a group, equities 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 declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be paid a dividend of $1.60 per share. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 4.19%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PNC. JPMorgan Chase & Co. decreased their price target on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a research note on Thursday. Truist Financial decreased their target price on shares of The PNC Financial Services Group from $216.00 to $208.00 and set a “hold” rating on the stock in a research note on Friday. Citigroup dropped their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Wells Fargo & Company reduced their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Finally, The Goldman Sachs Group dropped their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $205.18.

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.