MONECO Advisors LLC Boosts Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

MONECO Advisors LLC boosted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.4% during the fourth quarter, Holdings Channel reports. The firm owned 11,902 shares of the financial services provider’s stock after purchasing an additional 395 shares during the quarter. MONECO Advisors LLC’s holdings in The PNC Financial Services Group were worth $2,295,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNC. Foundations Investment Advisors LLC lifted its position in The PNC Financial Services Group by 5.9% during the third quarter. Foundations Investment Advisors LLC now owns 1,544 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 86 shares during the period. International Assets Investment Management LLC lifted its position in The PNC Financial Services Group by 12,940.0% during the third quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock valued at $99,262,000 after purchasing an additional 532,871 shares during the period. Brighton Jones LLC lifted its position in The PNC Financial Services Group by 4.4% during the third quarter. Brighton Jones LLC now owns 3,057 shares of the financial services provider’s stock valued at $565,000 after purchasing an additional 129 shares during the period. Dakota Wealth Management lifted its position in The PNC Financial Services Group by 5.5% during the third quarter. Dakota Wealth Management now owns 4,186 shares of the financial services provider’s stock valued at $774,000 after purchasing an additional 218 shares during the period. Finally, Ballentine Partners LLC lifted its position in The PNC Financial Services Group by 17.9% during the third quarter. Ballentine Partners LLC now owns 6,968 shares of the financial services provider’s stock valued at $1,288,000 after purchasing an additional 1,056 shares during the period. Institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, November 29th. The shares were sold at an average price of $216.01, for a total value of $268,284.42. Following the completion of the transaction, the chief executive officer now directly owns 533,765 shares of the company’s stock, valued at $115,298,577.65. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders sold 12,420 shares of company stock valued at $2,474,722. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PNC. Compass Point increased their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Citigroup increased their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Wells Fargo & Company increased their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, 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 research report on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group Stock Down 2.1 %

Shares of PNC stock opened at $187.90 on Friday. The company has a market capitalization of $74.55 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 1.55 and a beta of 1.16. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26. The company’s fifty day moving average price is $196.08 and its 200-day moving average price is $191.80. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations 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 PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the company posted $3.16 earnings per share. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.41%. The PNC Financial Services Group’s payout ratio is 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.