Investment Advisory Services Inc. TX ADV Purchases New Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Investment Advisory Services Inc. TX ADV acquired a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,089 shares of the financial services provider’s stock, valued at approximately $210,000.

Several other large investors have also modified their holdings of PNC. Stoneridge Investment Partners LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $1,063,000. Entropy Technologies LP purchased a new stake in The PNC Financial Services Group in the fourth quarter worth $5,824,000. D Orazio & Associates Inc. lifted its position in shares of The PNC Financial Services Group by 16.8% during the fourth quarter. D Orazio & Associates Inc. now owns 1,746 shares of the financial services provider’s stock worth $337,000 after purchasing an additional 251 shares during the last quarter. Kingsview Wealth Management LLC boosted its stake in shares of The PNC Financial Services Group by 0.9% during the fourth quarter. Kingsview Wealth Management LLC now owns 18,086 shares of the financial services provider’s stock valued at $3,488,000 after purchasing an additional 161 shares during the period. Finally, Apollon Wealth Management LLC grew its holdings in shares of The PNC Financial Services Group by 4.1% in the fourth quarter. Apollon Wealth Management LLC now owns 26,705 shares of the financial services provider’s stock worth $5,150,000 after purchasing an additional 1,053 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In related news, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the transaction, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This represents a 27.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $202.11, for a total value of $251,020.62. Following the sale, the chief executive officer now directly owns 522,587 shares of the company’s stock, valued at approximately $105,620,058.57. This represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,413 shares of company stock worth $6,037,230 in the last three months. Corporate insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on PNC shares. Piper Sandler boosted their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Citigroup boosted their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Truist Financial raised their price objective on 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. Barclays upped their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Evercore ISI raised their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $200.80 on Friday. The firm’s fifty day simple moving average is $198.40 and its two-hundred day simple moving average is $190.45. The firm has a market capitalization of $79.67 billion, a P/E ratio of 14.60, a P/E/G ratio of 1.64 and a beta of 1.16. 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, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26.

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 for the quarter, topping the consensus estimate 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 firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous year, the business earned $3.16 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts forecast that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend 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.