National Pension Service Buys 26,305 Shares of The PNC Financial Services Group, Inc $PNC

National Pension Service grew its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,070,589 shares of the financial services provider’s stock after purchasing an additional 26,305 shares during the quarter. National Pension Service owned approximately 0.27% of The PNC Financial Services Group worth $215,113,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. McKinley Carter Wealth Services Inc. increased its position in The PNC Financial Services Group by 2.9% during the third quarter. McKinley Carter Wealth Services Inc. now owns 8,945 shares of the financial services provider’s stock worth $1,797,000 after acquiring an additional 249 shares during the period. Hoge Financial Services LLC acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter worth approximately $201,000. Cornerstone Wealth Management LLC raised its stake in The PNC Financial Services Group by 25.9% during the third quarter. Cornerstone Wealth Management LLC now owns 1,930 shares of the financial services provider’s stock worth $388,000 after acquiring an additional 397 shares in the last quarter. AlphaQuest LLC lifted its holdings in The PNC Financial Services Group by 29.2% during the 3rd quarter. AlphaQuest LLC now owns 29,309 shares of the financial services provider’s stock valued at $5,889,000 after purchasing an additional 6,620 shares during the last quarter. Finally, Argent Advisors Inc. raised its stake in shares of The PNC Financial Services Group by 1.5% in the third quarter. Argent Advisors Inc. now owns 9,863 shares of the financial services provider’s stock valued at $1,982,000 after acquiring an additional 149 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,000 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total transaction of $183,570.00. Following the completion of the sale, the executive vice president directly owned 5,802 shares in the company, valued at $1,065,073.14. This represents a 14.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Trading Down 0.5%

Shares of PNC stock opened at $223.33 on Friday. The company has a market capitalization of $87.58 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 0.94 and a beta of 0.99. The firm has a 50 day moving average price of $210.42 and a two-hundred day moving average price of $199.13. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.94. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $227.78.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The company had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The company’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.77 earnings per share. As a group, analysts predict 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 company also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 40.99%.

Analyst Ratings Changes

A number of research analysts recently issued reports on PNC shares. Wells Fargo & Company lifted their price target on The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Piper Sandler raised shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $211.00 to $220.00 in a report on Thursday, October 9th. Oppenheimer boosted their target price on The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. Finally, Keefe, Bruyette & Woods increased their target price on The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $231.00.

The PNC Financial Services Group 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.