Taylor Securities Services Inc. acquired a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC – Free Report) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 2,497 shares of the financial services provider’s stock, valued at approximately $521,000.
Other large investors have also bought and sold shares of the company. Monetary Solutions Ltd acquired a new position in The PNC Financial Services Group during the fourth quarter worth about $25,000. Quarry LP acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at approximately $25,000. Modus Advisors LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at approximately $29,000. Kemnay Advisory Services Inc. bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at approximately $32,000. Finally, EFG International AG acquired a new position in The PNC Financial Services Group during the 4th quarter worth approximately $33,000. 83.53% of the stock is owned by institutional investors and hedge funds.
The PNC Financial Services Group Trading Up 0.1%
Shares of NYSE PNC opened at $232.39 on Friday. The firm has a 50 day moving average price of $222.68 and a two-hundred day moving average price of $217.55. The stock has a market cap of $93.32 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92. The PNC Financial Services Group, Inc has a 52-week low of $176.16 and a 52-week high of $243.94. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83.
The PNC Financial Services Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were paid a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 annualized dividend and a dividend yield of 2.9%. The PNC Financial Services Group’s dividend payout ratio is presently 39.51%.
Analyst Ratings Changes
Several brokerages recently commented on PNC. Truist Financial increased their price objective on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a research note on Thursday, April 16th. Barclays upped their price target on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Bank of America increased their price target on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Keefe, Bruyette & Woods raised their price objective on The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a report on Thursday, April 16th. Finally, Citigroup boosted their price objective on The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $246.72.
Check Out Our Latest Report on The PNC Financial Services Group
Insiders Place Their Bets
In other news, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares of the company’s stock, valued at $2,370,906.93. The trade was a 80.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Stephanie Novosel sold 1,800 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 48,300 shares of company stock worth $10,694,574. 0.38% of the stock is currently owned by insiders.
The PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.
PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.
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