167 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Acquired by Rialto Wealth Management LLC

Rialto Wealth Management LLC acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, HoldingsChannel reports. The fund acquired 167 shares of the financial services provider’s stock, valued at approximately $32,000.

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of The PNC Financial Services Group by 0.6% in the third quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock valued at $3,197,791,000 after acquiring an additional 100,573 shares in the last quarter. Franklin Resources Inc. boosted its holdings in The PNC Financial Services Group by 1.2% in the 3rd quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock valued at $1,939,154,000 after purchasing an additional 123,994 shares during the period. Geode Capital Management LLC grew its position in shares of The PNC Financial Services Group by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock worth $1,541,155,000 after purchasing an additional 166,138 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of The PNC Financial Services Group by 22.5% during the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock worth $746,435,000 after purchasing an additional 710,311 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of The PNC Financial Services Group by 1.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,950,394 shares of the financial services provider’s stock valued at $545,380,000 after buying an additional 42,887 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $189.29, for a total transaction of $235,098.18. Following the transaction, the chief executive officer now owns 530,039 shares in the company, valued at approximately $100,331,082.31. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 12,420 shares of company stock valued at $2,421,788 over the last ninety days. 0.42% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of analyst reports. Citigroup increased their price target on 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. The Goldman Sachs Group raised their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Wells Fargo & Company upped their price objective 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. Barclays raised their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Piper Sandler boosted their target price 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Price Performance

PNC stock opened at $179.75 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The firm has a market cap of $71.14 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 1.55 and a beta of 1.13. The company’s fifty day simple moving average is $194.20 and its 200 day simple moving average is $192.96. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 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 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.16 EPS. On average, 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 business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.56%. The PNC Financial Services Group’s payout ratio is presently 46.55%.

The PNC Financial Services Group 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.