Rafferty Asset Management LLC Acquires 5,219 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Rafferty Asset Management LLC grew its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,984 shares of the financial services provider’s stock after purchasing an additional 5,219 shares during the period. Rafferty Asset Management LLC’s holdings in The PNC Financial Services Group were worth $26,996,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PNC. Baltimore Washington Financial Advisors Inc. boosted its holdings in shares of The PNC Financial Services Group by 3.1% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock worth $324,000 after buying an additional 51 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of The PNC Financial Services Group by 2.4% in 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 buying an additional 53 shares during the last quarter. Transcend Capital Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock worth $616,000 after buying an additional 55 shares during the last quarter. Valmark Advisers Inc. boosted its holdings in shares of The PNC Financial Services Group by 1.4% in the fourth quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock worth $773,000 after buying an additional 56 shares during the last quarter. Finally, Gilbert & Cook Inc. boosted its holdings in shares of The PNC Financial Services Group by 2.1% in the fourth quarter. Gilbert & Cook Inc. now owns 2,787 shares of the financial services provider’s stock worth $537,000 after buying an additional 58 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 1.0%

The PNC Financial Services Group stock opened at $179.64 on Friday. The stock has a market cap of $71.06 billion, a P/E ratio of 13.06, a PEG ratio of 1.55 and a beta of 1.06. 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, Inc. has a 1 year low of $145.12 and a 1 year high of $216.26. The firm’s 50 day moving average price is $164.67 and its 200-day moving average price is $186.29.

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

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio is presently 45.20%.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of research reports. Stephens reissued an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Barclays decreased their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Citigroup decreased their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. TD Cowen initiated coverage on shares of The PNC Financial Services Group in a research note on Thursday. They set a “buy” rating and a $233.00 target price on the stock. Finally, Truist Financial decreased 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 note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and an average target price of $202.67.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $190.18, for a total value of $236,203.56. Following the sale, the chief executive officer now owns 569,783 shares in the company, valued at approximately $108,361,330.94. The trade was a 0.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the sale, the executive vice president now owns 20,490 shares in the company, valued at $3,576,734.40. This represents a 6.79% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,396 shares of company stock worth $2,789,603. Insiders own 0.41% of the company’s stock.

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.