Graypoint LLC Buys 218 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Graypoint LLC boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,032 shares of the financial services provider’s stock after acquiring an additional 218 shares during the quarter. Graypoint LLC’s holdings in The PNC Financial Services Group were worth $585,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PNC. Acadian Asset Management LLC raised its holdings in shares of The PNC Financial Services Group by 8,316.8% during the 2nd quarter. Acadian Asset Management LLC now owns 15,487 shares of the financial services provider’s stock valued at $2,406,000 after buying an additional 15,303 shares in the last quarter. Headlands Technologies LLC bought a new position in The PNC Financial Services Group during the second quarter valued at approximately $92,000. Y.D. More Investments Ltd purchased a new position in shares of The PNC Financial Services Group during the second quarter worth approximately $33,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of The PNC Financial Services Group by 0.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 110,410 shares of the financial services provider’s stock worth $16,567,000 after acquiring an additional 422 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its stake in shares of The PNC Financial Services Group by 3.8% in the 2nd quarter. GHP Investment Advisors Inc. now owns 12,072 shares of the financial services provider’s stock valued at $1,877,000 after purchasing an additional 442 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $189.31 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock has a market cap of $75.11 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 2.11 and a beta of 1.16. The business’s fifty day moving average is $201.47 and its 200 day moving average is $185.77. The PNC Financial Services Group, Inc. has a twelve month low of $139.69 and a twelve month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period last year, the business earned $3.60 EPS. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts expect that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be paid a $1.60 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.38%. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the transaction, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. The trade was a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,030 shares of company stock valued at $5,925,333 in the last 90 days. Corporate insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Truist Financial assumed coverage on shares of The PNC Financial Services Group in a research report on Tuesday, January 7th. They issued a “hold” rating and a $215.00 target price on the stock. Keefe, Bruyette & Woods boosted their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Stephens raised their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group raised their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $203.29.

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.