Heck Capital Advisors LLC Acquires Shares of 270 The PNC Financial Services Group, Inc. (NYSE:PNC)

Heck Capital Advisors LLC acquired a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, HoldingsChannel reports. The fund acquired 270 shares of the financial services provider’s stock, valued at approximately $52,000.

Other hedge funds have also added to or reduced their stakes in the company. Richardson Financial Services Inc. increased its position in 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 purchasing an additional 140 shares during the period. Synergy Asset Management LLC purchased a new position in The PNC Financial Services Group during the 4th quarter valued at $32,000. Rialto Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth about $32,000. Whipplewood Advisors LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth about $33,000. Finally, Financial Life Planners purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth about $37,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PNC has been the topic of a number of recent research reports. Truist Financial reduced their target price on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating on the stock in a research report on Wednesday, April 16th. TD Cowen initiated coverage on shares of The PNC Financial Services Group in a research report on Thursday, May 15th. They issued a “buy” rating and a $233.00 target price on the stock. The Goldman Sachs Group reduced their target price on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods reduced their target price on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 16th. Finally, Hsbc Global Res upgraded shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and a consensus price target of $202.67.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $178.83, for a total value of $222,106.86. Following the completion of the sale, the chief executive officer now directly owns 568,541 shares of the company’s stock, valued at approximately $101,672,187.03. This represents a 0.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Martin Pfinsgraff bought 1,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average cost of $158.22 per share, with a total value of $158,220.00. Following the completion of the acquisition, the director now directly owns 2,009 shares in the company, valued at $317,863.98. This represents a 99.11% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 16,396 shares of company stock worth $2,773,072 in the last quarter. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC opened at $171.87 on Tuesday. The company’s 50-day simple moving average is $165.09 and its two-hundred day simple moving average is $185.28. The PNC Financial Services Group, Inc. has a 52-week low of $145.12 and a 52-week high of $216.26. 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 stock has a market capitalization of $67.99 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.50 billion. As a group, analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 45.20%.

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.